Alta Equipment Group Inc. (NYSE:ALTG) Receives Consensus Rating of “Hold” from Analysts

Alta Equipment Group Inc. (NYSE:ALTG) has earned a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.00.

ALTG has been the subject of a number of analyst reports. Zacks Research raised Alta Equipment Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alta Equipment Group in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Alta Equipment Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, DA Davidson reduced their price objective 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.

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, Director Daniel Shribman acquired 40,000 shares of the stock in a transaction dated Monday, December 8th. The stock was acquired at an average cost of $5.07 per share, with a total value of $202,800.00. Following the transaction, the director owned 131,393 shares in the company, valued at $666,162.51. The trade was a 43.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alta Equipment Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Alta Equipment Group during the second quarter worth approximately $35,000. Inscription Capital LLC acquired a new stake in Alta Equipment Group during the fourth quarter worth approximately $56,000. Lido Advisors LLC purchased a new stake in shares of Alta Equipment Group during the 2nd quarter worth approximately $74,000. R Squared Ltd purchased a new stake in shares of Alta Equipment Group during the 3rd quarter worth approximately $79,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Alta Equipment Group in the 2nd quarter valued at $81,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Trading Down 1.1%

ALTG opened at $6.94 on Thursday. The business has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.41. The company has a debt-to-equity ratio of 257.10, a current ratio of 1.42 and a quick ratio of 0.49. Alta Equipment Group has a 12 month low of $3.54 and a 12 month high of $8.99. The stock has a market capitalization of $223.55 million, a price-to-earnings ratio of -2.76 and a beta of 1.56.

Alta Equipment Group Company Profile

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.