Alta Equipment Group (NYSE:ALTG) Releases Earnings Results, Beats Estimates By $0.07 EPS

Alta Equipment Group (NYSE:ALTG) released its quarterly earnings data on Monday. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.07, FiscalAI reports. Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.42%. The firm had revenue of $417.40 million for the quarter, compared to the consensus estimate of $452.30 million.

Alta Equipment Group Stock Performance

Shares of NYSE ALTG traded up $0.09 during trading hours on Monday, hitting $6.01. The company’s stock had a trading volume of 233,728 shares, compared to its average volume of 228,789. Alta Equipment Group has a 12 month low of $4.16 and a 12 month high of $8.69. The stock has a market cap of $196.51 million, a price-to-earnings ratio of -2.34 and a beta of 1.76. The business has a 50-day simple moving average of $6.25 and a 200-day simple moving average of $6.51.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALTG. Weiss Ratings restated a “sell (d-)” rating on shares of Alta Equipment Group in a research report on Wednesday, August 26th. Citigroup reiterated an “outperform” rating on shares of Alta Equipment Group in a research report on Friday, September 25th. Wall Street Zen raised Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Northland Securities set a $12.00 target price on shares of Alta Equipment Group in a report on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.83.

About Alta Equipment Group

Alta Equipment Group Inc is an equipment dealership and rental company that provides machinery, parts, service and support to customers in the construction, industrial, manufacturing, warehousing and related sectors. The company operates through construction and material-handling businesses, serving contractors, businesses and public-sector organizations.

Its construction equipment offerings include earthmoving machinery, aerial work platforms, cranes, compact equipment and other jobsite products.