Northland Securities Predicts ALTG FY2030 Earnings

Alta Equipment Group Inc. (NYSE:ALTG) – Equities researchers at Northland Securities issued their FY2030 earnings per share (EPS) estimates for Alta Equipment Group in a note issued to investors on Wednesday, March 4th. Northland Securities analyst E. Jackson anticipates that the company will earn $0.81 per share for the year. The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.92) per share.

Alta Equipment Group (NYSE:ALTG) last issued its earnings results on Thursday, February 26th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). The firm had revenue of $509.10 million for the quarter, compared to analyst estimates of $489.56 million. Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%.

A number of other equities research analysts have also weighed in on the stock. Zacks Research upgraded shares of Alta Equipment Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. DA Davidson set a $7.00 price target on Alta Equipment Group in a research note on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Alta Equipment Group in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alta Equipment Group currently has an average rating of “Hold” and an average price target of $11.00.

Alta Equipment Group Stock Down 4.5%

Alta Equipment Group stock opened at $6.64 on Friday. The firm has a market capitalization of $214.07 million, a price-to-earnings ratio of -2.59 and a beta of 1.54. The firm’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $6.31. Alta Equipment Group has a 1-year low of $3.54 and a 1-year high of $8.99. The company has a current ratio of 1.43, a quick ratio of 0.48 and a debt-to-equity ratio of 257.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALTG. First Eagle Investment Management LLC grew its holdings in Alta Equipment Group by 16.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 792,103 shares of the company’s stock valued at $5,006,000 after buying an additional 110,444 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Alta Equipment Group by 147.3% in the second quarter. Citizens Financial Group Inc. RI now owns 230,000 shares of the company’s stock worth $1,454,000 after buying an additional 137,000 shares in the last quarter. RBF Capital LLC purchased a new stake in shares of Alta Equipment Group in the second quarter worth about $632,000. Lido Advisors LLC bought a new position in shares of Alta Equipment Group in the second quarter valued at approximately $74,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Alta Equipment Group by 23.4% in the second quarter. Los Angeles Capital Management LLC now owns 42,705 shares of the company’s stock valued at $270,000 after acquiring an additional 8,105 shares during the period. 73.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Alta Equipment Group

In other news, Director Daniel Shribman acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was bought at an average price of $5.07 per share, with a total value of $202,800.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anthony Colucci sold 8,137 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $7.05, for a total value of $57,365.85. Following the completion of the sale, the chief financial officer owned 240,750 shares in the company, valued at $1,697,287.50. This represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.20% of the company’s stock.

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.