Northland Securities Predicts ALTG FY2030 Earnings

Alta Equipment Group Inc. (NYSE:ALTG) – Stock analysts at Northland Securities issued their FY2030 earnings per share estimates for shares of Alta Equipment Group in a report issued on Wednesday, March 4th. Northland Securities analyst E. Jackson anticipates that the company will post earnings per share of $0.81 for the year. The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.92) per share.

Other analysts have also issued research reports about the company. DA Davidson lowered their price target on Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Wall Street Zen upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Monday, December 29th. Finally, Zacks Research upgraded Alta Equipment Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Alta Equipment Group Trading Down 1.6%

NYSE ALTG opened at $6.98 on Friday. The stock has a market cap of $225.04 million, a PE ratio of -2.73 and a beta of 1.54. Alta Equipment Group has a 12 month low of $3.54 and a 12 month high of $8.99. The company’s 50-day moving average price is $6.38 and its 200-day moving average price is $6.31. The company has a current ratio of 1.43, a quick ratio of 0.48 and a debt-to-equity ratio of 257.10.

Alta Equipment Group (NYSE:ALTG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.10). The business had revenue of $509.10 million during the quarter, compared to the consensus estimate of $489.56 million. Alta Equipment Group had a negative net margin of 4.37% and a negative return on equity of 341.70%.

Insider Transactions at Alta Equipment Group

In related news, Director Daniel Shribman bought 40,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were bought at an average price of $5.07 per share, for a total transaction of $202,800.00. Following the completion of the purchase, the director directly owned 131,393 shares of the company’s stock, valued at approximately $666,162.51. This trade represents a 43.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Greenawalt sold 27,986 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $7.05, for a total transaction of $197,301.30. Following the completion of the transaction, the chief executive officer owned 5,721,710 shares of the company’s stock, valued at $40,338,055.50. This represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Alta Equipment Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Occudo Quantitative Strategies LP raised its stake in Alta Equipment Group by 7.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 23,423 shares of the company’s stock worth $108,000 after purchasing an additional 1,558 shares during the period. State Street Corp raised its position in shares of Alta Equipment Group by 0.3% during the 4th quarter. State Street Corp now owns 527,644 shares of the company’s stock valued at $2,427,000 after buying an additional 1,826 shares during the period. Russell Investments Group Ltd. lifted its holdings in Alta Equipment Group by 4.0% in the fourth quarter. Russell Investments Group Ltd. now owns 54,614 shares of the company’s stock valued at $251,000 after acquiring an additional 2,112 shares during the last quarter. Royal Bank of Canada grew its position in Alta Equipment Group by 55.1% in the fourth quarter. Royal Bank of Canada now owns 6,153 shares of the company’s stock worth $28,000 after acquiring an additional 2,186 shares during the period. Finally, Engineers Gate Manager LP increased its stake in Alta Equipment Group by 18.1% during the fourth quarter. Engineers Gate Manager LP now owns 14,940 shares of the company’s stock worth $69,000 after acquiring an additional 2,289 shares during the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

About Alta Equipment Group

Alta Equipment Group, Inc (NYSE: ALTG) is a North American distributor of material handling and logistics equipment. The company offers a broad lineup of forklifts, lift trucks, aerial work platforms, tow motors, pallet jacks and related attachments, serving manufacturing, warehousing, distribution and industrial facilities. Through its network of branch locations, Alta Equipment provides customers with new and used sales, short- and long-term rentals, and integrated fleet management solutions designed to support operational efficiency.

In addition to equipment sales, Alta Equipment supports customers with comprehensive after-sales services.