Alta Equipment Group Inc. (ALTG) – What Are Brokerages Saying About This Stock?

Alta Equipment Group Inc. (NYSE:ALTG) has earned a consensus recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.83.

A number of research firms have weighed in on ALTG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alta Equipment Group in a research report on Wednesday, August 26th. Citigroup reissued an “outperform” rating on shares of Alta Equipment Group in a report on Friday, September 25th. Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Northland Securities set a $12.00 price target on Alta Equipment Group in a research note on Friday, September 25th. Finally, DA Davidson restated a “neutral” rating and set a $8.00 price target on shares of Alta Equipment Group in a research note on Wednesday, June 24th.

Hedge Funds Weigh In On Alta Equipment Group

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Alta Equipment Group in the first quarter valued at about $65,000. Lazard Asset Management LLC purchased a new position in Alta Equipment Group during the first quarter worth about $70,000. Ritholtz Wealth Management raised its holdings in Alta Equipment Group by 15.4% during the first quarter. Ritholtz Wealth Management now owns 15,576 shares of the company’s stock worth $84,000 after purchasing an additional 2,073 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Alta Equipment Group by 173.8% during the first quarter. Public Employees Retirement System of Ohio now owns 16,700 shares of the company’s stock worth $90,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Alta Equipment Group by 22.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 80,419 shares of the company’s stock valued at $432,000 after purchasing an additional 14,933 shares during the period. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

NYSE ALTG opened at $6.08 on Tuesday. The firm’s fifty day moving average is $6.26 and its two-hundred day moving average is $6.49. Alta Equipment Group has a one year low of $4.16 and a one year high of $8.69. The firm has a market cap of $198.80 million, a PE ratio of -2.37 and a beta of 1.77.

Alta Equipment Group (NYSE:ALTG) last announced its earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The business had revenue of $475.50 million for the quarter, compared to analyst estimates of $488.71 million. Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.42%. Research analysts predict that Alta Equipment Group will post -1.20 earnings per share for the current year.

Alta Equipment Group Company Profile

Alta Equipment Group Inc is an integrated equipment dealership platform serving the construction and industrial markets in the United States. The company sells, rents, and provides parts and service for a broad range of equipment used in construction, infrastructure, warehousing, distribution, and other industrial applications.

Alta operates through two primary business segments: construction equipment and material-handling equipment. Its offerings include heavy construction machinery, aerial work platforms, earthmoving equipment, cranes, forklifts, warehouse equipment, and related products.