Analysts Set Alta Equipment Group Inc. (NYSE:ALTG) Target Price at $11.25

Alta Equipment Group Inc. (NYSE:ALTG) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $11.25.

ALTG has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alta Equipment Group in a research note on Wednesday, October 8th. DA Davidson restated a “neutral” rating and set a $8.00 price target on shares of Alta Equipment Group in a report on Monday, August 18th. Northland Securities upgraded Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Tuesday, July 8th. Finally, Northland Capmk upgraded Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th.

Hedge Funds Weigh In On Alta Equipment Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Voss Capital LP boosted its holdings in shares of Alta Equipment Group by 2.3% in the 1st quarter. Voss Capital LP now owns 2,980,816 shares of the company’s stock worth $13,980,000 after purchasing an additional 65,816 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Alta Equipment Group by 23.4% during the 1st quarter. Nantahala Capital Management LLC now owns 1,042,769 shares of the company’s stock worth $4,891,000 after acquiring an additional 197,654 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Alta Equipment Group by 16.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock worth $5,006,000 after acquiring an additional 110,444 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Alta Equipment Group by 48.3% during the 1st quarter. Royce & Associates LP now owns 393,270 shares of the company’s stock worth $1,844,000 after acquiring an additional 128,000 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Alta Equipment Group by 98.4% during the 1st quarter. GSA Capital Partners LLP now owns 358,290 shares of the company’s stock worth $1,680,000 after acquiring an additional 177,685 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Down 3.3%

ALTG stock opened at $6.16 on Friday. Alta Equipment Group has a fifty-two week low of $3.54 and a fifty-two week high of $8.99. The business’s 50-day moving average is $7.58 and its two-hundred day moving average is $6.38. The company has a debt-to-equity ratio of 16.69, a quick ratio of 0.48 and a current ratio of 1.39. The company has a market cap of $197.43 million, a price-to-earnings ratio of -2.99 and a beta of 1.58.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. The firm had revenue of $481.20 million for the quarter, compared to analysts’ expectations of $478.63 million. Alta Equipment Group had a negative return on equity of 95.61% and a negative net margin of 3.53%. As a group, analysts forecast that Alta Equipment Group will post -1.92 earnings per share for the current year.

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.