Alta Equipment Group Inc. (NYSE:ALTG) – Research analysts at Raymond James upped their Q4 2021 earnings per share estimates for Alta Equipment Group in a research report issued to clients and investors on Wednesday, July 21st. Raymond James analyst B. Fast now anticipates that the company will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.21. Raymond James currently has a “Outperform” rating and a $16.00 target price on the stock.
Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Wednesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.06). The firm had revenue of $268.80 million for the quarter, compared to the consensus estimate of $245.50 million. Alta Equipment Group had a negative return on equity of 9.45% and a negative net margin of 1.32%.
Shares of ALTG opened at $13.25 on Thursday. The company has a 50-day moving average of $13.74. Alta Equipment Group has a fifty-two week low of $6.94 and a fifty-two week high of $15.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.36 and a current ratio of 0.87.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Alta Equipment Group by 1.8% during the first quarter. BlackRock Inc. now owns 1,218,536 shares of the company’s stock worth $15,841,000 after buying an additional 21,447 shares in the last quarter. Citigroup Inc. grew its stake in Alta Equipment Group by 306.0% during the fourth quarter. Citigroup Inc. now owns 3,325 shares of the company’s stock worth $33,000 after buying an additional 2,506 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Alta Equipment Group by 31.1% during the first quarter. Mesirow Financial Investment Management Inc. now owns 56,150 shares of the company’s stock worth $730,000 after buying an additional 13,309 shares in the last quarter. Rhumbline Advisers grew its stake in Alta Equipment Group by 21.3% during the fourth quarter. Rhumbline Advisers now owns 20,723 shares of the company’s stock worth $205,000 after buying an additional 3,645 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Alta Equipment Group by 13.3% during the fourth quarter. Wells Fargo & Company MN now owns 27,151 shares of the company’s stock worth $268,000 after buying an additional 3,194 shares in the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.
In other Alta Equipment Group news, Director Zachary E. Savas purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 10th. The shares were acquired at an average cost of $12.86 per share, for a total transaction of $64,300.00. Following the completion of the purchase, the director now owns 33,781 shares of the company’s stock, valued at approximately $434,423.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.90% of the company’s stock.
Alta Equipment Group Company Profile
Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment, and other material handling and construction equipment.
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