Alta Equipment Group (NYSE:ALTG) Given “Market Perform” Rating at Northland Securities

Northland Securities restated their market perform rating on shares of Alta Equipment Group (NYSE:ALTG) in a research note released on Wednesday morning, MarketBeat reports. Northland Securities currently has a $20.00 price objective on the stock, down from their previous price objective of $30.00.

Other equities analysts also recently issued reports about the company. Raymond James reiterated a “market perform” rating and set a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th. DA Davidson reduced their price target on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Alta Equipment Group Price Performance

Shares of NYSE ALTG opened at $7.97 on Wednesday. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47. The firm has a market capitalization of $263.73 million, a PE ratio of -4.69 and a beta of 1.67. Alta Equipment Group has a 1-year low of $5.40 and a 1-year high of $13.67. The business’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $7.89.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.64). The firm had revenue of $448.80 million during the quarter, compared to analyst estimates of $481.09 million. Alta Equipment Group had a negative return on equity of 38.90% and a negative net margin of 2.81%. On average, research analysts expect that Alta Equipment Group will post -1.08 EPS for the current year.

Alta Equipment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.057 per share. The ex-dividend date is Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.86%. Alta Equipment Group’s dividend payout ratio is presently -13.53%.

Insider Buying and Selling

In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares in the company, valued at $6,080,877.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 19.90% of the stock is owned by corporate insiders.

Institutional Trading of Alta Equipment Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Alta Equipment Group in the third quarter valued at $77,000. Quest Partners LLC acquired a new position in shares of Alta Equipment Group in the 2nd quarter worth $80,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Alta Equipment Group during the second quarter worth $89,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alta Equipment Group by 37.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,795 shares of the company’s stock valued at $95,000 after purchasing an additional 3,218 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Alta Equipment Group by 88.0% in the 1st quarter. EntryPoint Capital LLC now owns 8,419 shares of the company’s stock valued at $109,000 after purchasing an additional 3,940 shares during the period. 73.58% of the stock is owned by institutional investors and hedge funds.

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.