Key Points
- Director Daniel Shribman bought 40,000 shares on Dec. 8 at an average price of $5.07, a $202,800 purchase that increased his ownership by 43.77% to 131,393 shares (worth about $666,162.51 post-trade).
- Alta missed its most recent quarter, reporting ($1.31) EPS versus a ($0.27) estimate and revenue of $422.6M versus $456.7M expected, with negative ROE and net margins and analysts forecasting -1.92 EPS for the year.
- The stock is trading around the mid-single digits (opened $5.71, 52-week range $3.54–$8.99) with a $184.2M market cap, high debt-to-equity (257.10), ~73.6% institutional ownership, and a consensus “Hold” rating with a $11 average price target amid mixed analyst opinions.
Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) Director Daniel Shribman purchased 40,000 shares of the business's stock in a transaction on Monday, December 8th. The stock was purchased at an average price of $5.07 per share, with a total value of $202,800.00. Following the purchase, the director owned 131,393 shares of the company's stock, valued at approximately $666,162.51. The trade was a 43.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Alta Equipment Group Trading Up 11.1%
Shares of Alta Equipment Group stock opened at $5.71 on Thursday. Alta Equipment Group Inc. has a 52-week low of $3.54 and a 52-week high of $8.99. The stock has a market cap of $184.19 million, a PE ratio of -2.25 and a beta of 1.56. The firm has a 50-day moving average of $5.60 and a 200-day moving average of $6.64. The company has a debt-to-equity ratio of 257.10, a quick ratio of 0.49 and a current ratio of 1.42.
Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($1.04). Alta Equipment Group had a negative return on equity of 175.61% and a negative net margin of 4.34%.The firm had revenue of $422.60 million for the quarter, compared to analyst estimates of $456.68 million. As a group, sell-side analysts forecast that Alta Equipment Group Inc. will post -1.92 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ALTG. Zacks Research downgraded shares of Alta Equipment Group from a "hold" rating to a "strong sell" rating in a research report on Friday, November 14th. DA Davidson cut their price target on Alta Equipment Group from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Alta Equipment Group in a research report on Monday. Finally, Wall Street Zen downgraded Alta Equipment Group from a "hold" rating to a "sell" rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.00.
Read Our Latest Stock Analysis on Alta Equipment Group
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Alta Equipment Group during the 2nd quarter valued at $35,000. Farther Finance Advisors LLC raised its stake in Alta Equipment Group by 1,279.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,806 shares of the company's stock valued at $37,000 after acquiring an additional 5,385 shares during the period. R Squared Ltd bought a new position in Alta Equipment Group during the third quarter worth about $79,000. Centiva Capital LP purchased a new position in shares of Alta Equipment Group in the third quarter worth about $83,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alta Equipment Group during the 3rd quarter valued at approximately $83,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
Alta Equipment Group Company Profile
(
Get Free Report)
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.
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