FY2029 Earnings Forecast for ALTG Issued By Northland Capmk

Alta Equipment Group Inc. (NYSE:ALTG) – Stock analysts at Northland Capmk issued their FY2029 earnings per share estimates for shares of Alta Equipment Group in a research report issued to clients and investors on Tuesday, March 18th. Northland Capmk analyst E. Jackson forecasts that the company will post earnings of $0.50 per share for the year. The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.92) per share.

Separately, Raymond James reduced their price target on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Monday, March 10th.

Alta Equipment Group Trading Down 6.1 %

Shares of ALTG stock opened at $5.32 on Friday. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. Alta Equipment Group has a 1 year low of $4.45 and a 1 year high of $13.67. The stock has a fifty day moving average of $6.44 and a two-hundred day moving average of $6.69. The firm has a market capitalization of $174.65 million, a PE ratio of -3.13 and a beta of 1.81.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s dividend payout ratio is presently -11.22%.

Insider Transactions at Alta Equipment Group

In other news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the sale, the chief operating officer now owns 98,640 shares of the company’s stock, valued at approximately $493,200. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Alta Equipment Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Alta Equipment Group during the fourth quarter worth $69,000. Intech Investment Management LLC acquired a new stake in shares of Alta Equipment Group during the fourth quarter worth $79,000. Wells Fargo & Company MN raised its position in shares of Alta Equipment Group by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock worth $82,000 after purchasing an additional 4,272 shares during the period. SG Americas Securities LLC raised its position in shares of Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after purchasing an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Alta Equipment Group by 49.4% during the fourth quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock worth $133,000 after purchasing an additional 6,716 shares during the period. Institutional investors own 73.58% of the company’s stock.

About Alta Equipment Group

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.