Citizens Financial Group Inc. RI Increases Stake in Alta Equipment Group Inc. $ALTG

Citizens Financial Group Inc. RI boosted its stake in Alta Equipment Group Inc. (NYSE:ALTG) by 147.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 230,000 shares of the company’s stock after purchasing an additional 137,000 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Alta Equipment Group were worth $1,454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALTG. Los Angeles Capital Management LLC boosted its holdings in shares of Alta Equipment Group by 23.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 42,705 shares of the company’s stock valued at $270,000 after purchasing an additional 8,105 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Alta Equipment Group by 16.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock worth $5,006,000 after buying an additional 110,444 shares during the period. Farther Finance Advisors LLC boosted its holdings in Alta Equipment Group by 1,279.1% in the second quarter. Farther Finance Advisors LLC now owns 5,806 shares of the company’s stock valued at $37,000 after acquiring an additional 5,385 shares during the last quarter. Rhumbline Advisers grew its position in Alta Equipment Group by 15.9% during the first quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock valued at $185,000 after acquiring an additional 5,406 shares during the period. Finally, Strs Ohio acquired a new stake in Alta Equipment Group during the first quarter worth about $138,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTG has been the topic of several research analyst reports. Wall Street Zen lowered Alta Equipment Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. DA Davidson cut their price target on shares of Alta Equipment Group from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Alta Equipment Group Stock Performance

Alta Equipment Group stock opened at $4.42 on Tuesday. The stock’s 50 day moving average price is $6.48 and its 200 day moving average price is $6.68. The firm has a market capitalization of $142.34 million, a PE ratio of -1.76 and a beta of 1.57. The company has a debt-to-equity ratio of 257.10, a quick ratio of 0.49 and a current ratio of 1.42. Alta Equipment Group Inc. has a one year low of $3.54 and a one year high of $8.99.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($1.04). The firm had revenue of $422.60 million during the quarter, compared to analyst estimates of $456.68 million. Alta Equipment Group had a negative net margin of 4.34% and a negative return on equity of 175.61%. As a group, sell-side analysts expect that Alta Equipment Group Inc. will post -1.92 EPS for the current fiscal year.

Alta Equipment Group Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. 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 other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.