The stock of Alta Equipment Group Inc. (NYSE:ALTG) last traded at $16.54, up 2.92% from the previous session.
Data from the available sources indicates that Alta Equipment Group Inc. (NYSE:ALTG) is covered by 4 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $17.00, we find $20.50. Given the previous closing price of $16.07, this indicates a potential upside of 27.57 percent. ALTG stock price is now 25.09% away from the 50-day moving average and 40.84% away from the 200-day moving average. The market capitalization of the company currently stands at $534.24M.
In total, 0 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $20.75 as their price target over the next twelve months.
With the price target of $25, Northland Capital recently initiated with Outperform rating for Alta Equipment Group Inc. (NYSE: ALTG). On January 04, 2022, B. Riley Securities reiterated its ‘Buy’ rating on the stock by increasing its target price from $21 to quote $22, while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, STUDDERT ANDREW P, Director bought 5,500 shares of the company’s stock on Aug 12. The stock was bought for $71,638 at an average price of $13.03. Upon completion of the transaction, the Director now directly owns 53,109 shares in the company, valued at $0.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 26, 10% Owner B. Riley Financial, Inc. bought 2,936 shares of the business’s stock. A total of $30,828 was incurred on buying the stock at an average price of $10.50. This leaves the insider owning 2,021,134 shares of the company worth $33.43 million. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALTG stock. A new stake in Alta Equipment Group Inc. shares was purchased by HILLSDALE INVESTMENT MANAGEMENT INC. during the first quarter worth $3,836,000. ESSEX INVESTMENT MANAGEMENT CO LLC invested $2,256,000 in shares of ALTG during the first quarter. In the first quarter, OBERWEIS ASSET MANAGEMENT INC/ acquired a new stake in Alta Equipment Group Inc. valued at approximately $1,373,000. CONTRARIAN CAPITAL MANAGEMENT, L.L.C. acquired a new stake in ALTG for approximately $926,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in ALTG valued at around $364,000 in the second quarter. In total, there are 129 active investors with 66.20% ownership of the company’s stock.
With an opening price of $16.12 on Tuesday morning, Alta Equipment Group Inc. (NYSE: ALTG) set off the trading day. During the past 12 months, Alta Equipment Group Inc. has had a low of $8.65 and a high of $16.47. As of last week, the company has a debt-to-equity ratio of 4.93, a current ratio of 1.40, and a quick ratio of 0.60. The fifty day moving average price for ALTG is $13.22 and a two-hundred day moving average price translates $11.74 for the stock.
The latest earnings results from Alta Equipment Group Inc. (NYSE: ALTG) was released for Jun, 2022. According to the Rental & Leasing Services Company, earnings per share came in at $0.17, beating analysts’ expectations of $0.01 by 0.16. This compares to $0.00 EPS in the same period last year. The net profit margin was 0.40% and return on equity was 4.60% for ALTG. The company reported revenue of $405.0 million for the quarter, compared to $295.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.29 percent. For the current quarter, analysts expect ALTG to generate $379.23M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/30/2022. Investors who held shares on 11/15/2022 were paid a $0.057 dividend. On an annualized basis, this represents a $0.23 dividend and a 1.38% percent yield. There was an ex-dividend date of 11/14/2022 for this dividend. In terms of dividend payout ratio, ALTG is presently at 28.70%.
Alta Equipment Group Inc.(ALTG) Company Profile
Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, earthmoving equipment, cranes, paving and asphalt equipment, and other material handling and construction equipment. It also offers repair and maintenance services for its equipment. In addition, the company designs and builds warehouses; and provides automated equipment installation and system integration solutions. It serves diversified manufacturing, food and beverage, wholesale/retail, construction, automotive, municipal/government, and medical sectors. Alta Equipment Group Inc. was founded in 1984 and is headquartered in Livonia, Michigan.