Key Points
- Major shareholder Mill Road Capital Iii, L.P. purchased 58,162 shares on March 12 at an average price of $6.10, increasing its stake to 4,369,410 shares (a 1.35% rise) valued at about $26.65 million.
- Alta reported Q4 EPS of ($0.39), missing estimates while revenue of $509.1 million beat expectations; the company has a market cap of roughly $194 million, negative profitability and a very high debt-to-equity ratio (~257).
- Analyst sentiment is mixed but improving — the consensus rating is a Moderate Buy with a $11.63 target, and institutional investors hold about 73.6% of the shares.
Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) major shareholder Mill Road Capital Iii, L.P. bought 3,798 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $5.95 per share, with a total value of $22,598.10. Following the purchase, the insider owned 4,373,208 shares in the company, valued at $26,020,587.60. This trade represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Mill Road Capital Iii, L.P. also recently made the following trade(s):
- On Thursday, March 12th, Mill Road Capital Iii, L.P. bought 58,162 shares of Alta Equipment Group stock. The stock was acquired at an average cost of $6.10 per share, for a total transaction of $354,788.20.
- On Wednesday, March 11th, Mill Road Capital Iii, L.P. purchased 18,040 shares of Alta Equipment Group stock. The stock was acquired at an average cost of $6.36 per share, for a total transaction of $114,734.40.
Alta Equipment Group Stock Down 1.7%
Shares of ALTG stock opened at $6.02 on Tuesday. Alta Equipment Group Inc. has a 12 month low of $3.54 and a 12 month high of $8.99. The company has a quick ratio of 0.48, a current ratio of 1.43 and a debt-to-equity ratio of 257.10. The firm has a market cap of $194.02 million, a PE ratio of -2.35 and a beta of 1.54. The stock has a 50 day moving average of $6.59 and a 200-day moving average of $6.21.
Alta Equipment Group (NYSE:ALTG - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10). Alta Equipment Group had a negative return on equity of 341.70% and a negative net margin of 4.37%.The company had revenue of $509.10 million during the quarter, compared to analyst estimates of $489.56 million. On average, equities analysts predict that Alta Equipment Group Inc. will post -1.92 EPS for the current year.
Analysts Set New Price Targets
Several research firms have issued reports on ALTG. Wall Street Zen upgraded shares of Alta Equipment Group from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. DA Davidson set a $7.00 target price on shares of Alta Equipment Group in a research note on Friday, March 6th. Zacks Research raised Alta Equipment Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Raymond James Financial upgraded Alta Equipment Group from a "market perform" rating to an "outperform" rating and set a $9.50 price target on the stock in a research note on Monday, March 9th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alta Equipment Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alta Equipment Group has an average rating of "Moderate Buy" and an average price target of $11.63.
View Our Latest Stock Report on Alta Equipment Group
Institutional Investors Weigh In On Alta Equipment Group
Several institutional investors and hedge funds have recently bought and sold shares of ALTG. Tudor Investment Corp ET AL raised its stake in shares of Alta Equipment Group by 11.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 100,885 shares of the company's stock valued at $464,000 after buying an additional 10,768 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Alta Equipment Group by 7.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 23,423 shares of the company's stock worth $108,000 after acquiring an additional 1,558 shares during the period. Millennium Management LLC boosted its position in shares of Alta Equipment Group by 45.4% during the 4th quarter. Millennium Management LLC now owns 76,587 shares of the company's stock valued at $352,000 after acquiring an additional 23,926 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Alta Equipment Group by 18.1% during the 4th quarter. Engineers Gate Manager LP now owns 14,940 shares of the company's stock valued at $69,000 after acquiring an additional 2,289 shares in the last quarter. Finally, CastleKnight Management LP increased its stake in Alta Equipment Group by 11.4% in the fourth quarter. CastleKnight Management LP now owns 870,128 shares of the company's stock valued at $4,003,000 after acquiring an additional 89,068 shares during the period. Institutional investors own 73.58% of the company's stock.
Alta Equipment Group Company Profile
(
Get Free Report)
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.
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