Analysts Set Alta Equipment Group Inc. (NYSE:ALTG) PT at $12.17

Shares of Alta Equipment Group Inc. (NYSE:ALTG) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.1667.

A number of brokerages have recently commented on ALTG. DA Davidson upgraded Alta Equipment Group to a “hold” rating in a report on Wednesday, May 6th. Raymond James Financial upgraded Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $9.50 target price for the company in a report on Monday, March 9th. Wall Street Zen cut Alta Equipment Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alta Equipment Group in a report on Friday, May 29th.

Hedge Funds Weigh In On Alta Equipment Group

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in Alta Equipment Group during the 2nd quarter valued at $35,000. Public Employees Retirement System of Ohio boosted its holdings in Alta Equipment Group by 221.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,100 shares of the company’s stock valued at $28,000 after acquiring an additional 4,200 shares during the period. Royal Bank of Canada boosted its holdings in Alta Equipment Group by 55.1% during the 4th quarter. Royal Bank of Canada now owns 6,153 shares of the company’s stock valued at $28,000 after acquiring an additional 2,186 shares during the period. Quarry LP boosted its holdings in Alta Equipment Group by 150.9% during the 4th quarter. Quarry LP now owns 6,676 shares of the company’s stock valued at $31,000 after acquiring an additional 4,015 shares during the period. Finally, R Squared Ltd purchased a new position in Alta Equipment Group during the 3rd quarter valued at $79,000. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

NYSE:ALTG opened at $7.65 on Wednesday. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.37 and a quick ratio of 0.47. Alta Equipment Group has a 1 year low of $4.16 and a 1 year high of $8.99. The stock’s 50 day simple moving average is $6.71 and its two-hundred day simple moving average is $6.20. The company has a market cap of $248.93 million, a price-to-earnings ratio of -3.02 and a beta of 1.73.

Alta Equipment Group (NYSE:ALTG) last announced its earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The company had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $424.18 million. Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.33%. As a group, equities analysts anticipate that Alta Equipment Group will post -1.2 earnings per share for the current fiscal year.

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.