Q2 2023 Earnings Estimate for Alta Equipment Group Inc. Issued By Northland Capmk (NYSE:ALTG)

Alta Equipment Group Inc. (NYSE:ALTG – Get Rating) – Equities researchers at Northland Capmk decreased their Q2 2023 EPS estimates for Alta Equipment Group in a research report issued to clients and investors on Wednesday, March 15th. Northland Capmk analyst E. Jackson now anticipates that the company will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.05. The consensus estimate for Alta Equipment Group’s current full-year earnings is $0.38 per share. Northland Capmk also issued estimates for Alta Equipment Group’s Q3 2023 earnings at $0.08 EPS, Q4 2023 earnings at $0.11 EPS, FY2024 earnings at $0.23 EPS, FY2025 earnings at $0.47 EPS, FY2026 earnings at $0.74 EPS and FY2027 earnings at $1.04 EPS.

A number of other equities research analysts also recently weighed in on the stock. B. Riley raised their target price on shares of Alta Equipment Group from $19.00 to $25.00 in a research note on Friday, March 10th. Raymond James raised their target price on shares of Alta Equipment Group from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, March 10th.

Alta Equipment Group Price Performance

ALTG stock opened at $16.80 on Thursday. The firm has a 50 day moving average of $17.24 and a 200-day moving average of $13.89. The firm has a market capitalization of $540.79 million, a P/E ratio of 84.00 and a beta of 1.56. The company has a current ratio of 1.41, a quick ratio of 0.56 and a debt-to-equity ratio of 3.89. Alta Equipment Group has a 12 month low of $8.65 and a 12 month high of $20.60.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALTG. Advisor Group Holdings Inc. raised its stake in shares of Alta Equipment Group by 280.0% during the first quarter. Advisor Group Holdings Inc. now owns 7,109 shares of the company’s stock worth $88,000 after acquiring an additional 5,238 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Alta Equipment Group during the first quarter worth approximately $147,000. MetLife Investment Management LLC raised its stake in shares of Alta Equipment Group by 54.9% during the first quarter. MetLife Investment Management LLC now owns 10,902 shares of the company’s stock worth $135,000 after acquiring an additional 3,862 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alta Equipment Group by 50.0% during the first quarter. Dimensional Fund Advisors LP now owns 180,799 shares of the company’s stock worth $2,235,000 after acquiring an additional 60,253 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Alta Equipment Group by 54.7% during the first quarter. Ancora Advisors LLC now owns 101,581 shares of the company’s stock worth $1,321,000 after acquiring an additional 35,905 shares in the last quarter. 63.54% of the stock is owned by hedge funds and other institutional investors.

Alta Equipment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Wednesday, February 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, February 14th. Alta Equipment Group’s dividend payout ratio is currently 115.01%.

About Alta Equipment Group

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Alta Equipment Group, Inc engages in the operation of equipment dealership platforms. It operates through the following segments: Material Handling, Construction Equipment, and Corporate. The Material Handling segment includes the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, and New York.