Alta Equipment Group (NYSE:ALTG – Get Rating) will be posting its quarterly earnings results after the market closes on Tuesday, May 10th. Analysts expect Alta Equipment Group to post earnings of ($0.06) per share for the quarter.
Alta Equipment Group (NYSE:ALTG – Get Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.02). The company had revenue of $356.30 million for the quarter, compared to analysts’ expectations of $300.20 million. Alta Equipment Group had a negative return on equity of 3.87% and a negative net margin of 1.72%. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, analysts expect Alta Equipment Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of ALTG traded up $0.36 on Wednesday, reaching $11.77. The stock had a trading volume of 56,483 shares, compared to its average volume of 73,684. The company’s 50-day moving average price is $12.16. The firm has a market capitalization of $380.88 million, a price-to-earnings ratio of -15.91 and a beta of 1.71. The company has a quick ratio of 0.50, a current ratio of 1.07 and a debt-to-equity ratio of 2.37. Alta Equipment Group has a 12-month low of $11.13 and a 12-month high of $17.38.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in Alta Equipment Group by 71.4% in the third quarter. Royal Bank of Canada now owns 2,387 shares of the company’s stock worth $33,000 after purchasing an additional 994 shares during the period. Citigroup Inc. grew its holdings in shares of Alta Equipment Group by 127.3% in the fourth quarter. Citigroup Inc. now owns 4,820 shares of the company’s stock valued at $71,000 after purchasing an additional 2,699 shares in the last quarter. Wells Fargo & Company MN raised its position in Alta Equipment Group by 2,737.0% during the 4th quarter. Wells Fargo & Company MN now owns 12,029 shares of the company’s stock valued at $177,000 after purchasing an additional 11,605 shares in the last quarter. Bank of America Corp DE boosted its position in Alta Equipment Group by 285.2% in the fourth quarter. Bank of America Corp DE now owns 24,531 shares of the company’s stock valued at $359,000 after buying an additional 18,162 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Alta Equipment Group by 106.9% during the fourth quarter. Millennium Management LLC now owns 25,295 shares of the company’s stock valued at $370,000 after acquiring an additional 13,071 shares during the last quarter. 66.17% of the stock is owned by institutional investors and hedge funds.
ALTG has been the topic of a number of recent analyst reports. B. Riley increased their price objective on shares of Alta Equipment Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, January 4th. Zacks Investment Research upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Monday, March 28th. Finally, Raymond James set a $19.00 price objective on Alta Equipment Group and gave the stock an “outperform” rating in a research report on Friday, April 1st.
Alta Equipment Group Company Profile (Get Rating)
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.
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