Alta Equipment Group (NYSE:ALTG) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Alta Equipment Group (NYSE:ALTG) posted its quarterly earnings results on Wednesday. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03), Zacks reports. Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 42.09%.

Alta Equipment Group Stock Performance

Shares of NYSE:ALTG traded up $0.32 during midday trading on Wednesday, hitting $5.08. The company had a trading volume of 282,299 shares, compared to its average volume of 162,519. Alta Equipment Group has a 12-month low of $4.65 and a 12-month high of $13.67. The company has a fifty day moving average of $6.82 and a two-hundred day moving average of $6.82. The company has a market cap of $168.77 million, a price-to-earnings ratio of -2.99 and a beta of 1.81. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43.

Alta Equipment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were issued a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s payout ratio is -12.94%.

Analysts Set New Price Targets

Several analysts have commented on ALTG shares. Raymond James cut their target price on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Northland Securities reiterated a “market perform” rating and issued a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Finally, Northland Capmk cut shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alta Equipment Group presently has an average rating of “Hold” and a consensus price target of $15.75.

Alta Equipment Group Company 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.