Alta Equipment Group (ALTG) Expected to Announce Earnings on Thursday

Alta Equipment Group (NYSE:ALTG) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 13th. Analysts expect Alta Equipment Group to post earnings of ($0.31) per share and revenue of $485.48 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Alta Equipment Group Stock Performance

Shares of ALTG opened at $4.91 on Wednesday. The stock’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $6.77. The stock has a market capitalization of $163.12 million, a price-to-earnings ratio of -2.89 and a beta of 1.81. 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 52-week low of $4.45 and a 52-week high of $13.67.

Alta Equipment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were issued a $0.057 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 4.65%. Alta Equipment Group’s payout ratio is currently -11.22%.

Analyst Ratings Changes

Several research firms have weighed in on ALTG. Raymond James lowered their price target on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $20.00 price target (down previously from $30.00) on shares of Alta Equipment Group in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.63.

Insider Activity at Alta Equipment Group

In related news, COO Craig Brubaker sold 5,294 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total transaction of $26,470.00. Following the transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.90% of the stock is currently owned by insiders.

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.