Alta Equipment Group’s (ALTG) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Alta Equipment Group (NYSE:ALTG) in a research note released on Wednesday morning,Weiss Ratings reports.

Several other equities research analysts have also recently commented on ALTG. Northland Securities upgraded Alta Equipment Group from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Tuesday, July 8th. DA Davidson reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Alta Equipment Group in a report on Monday, August 18th. Finally, Northland Capmk raised Alta Equipment Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.25.

Alta Equipment Group Price Performance

Alta Equipment Group stock opened at $6.16 on Wednesday. Alta Equipment Group has a 12 month low of $3.54 and a 12 month high of $8.99. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.39 and a quick ratio of 0.48. The business has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $6.36. The stock has a market capitalization of $197.43 million, a PE ratio of -2.99 and a beta of 1.58.

Alta Equipment Group (NYSE:ALTG) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. Alta Equipment Group had a negative return on equity of 95.61% and a negative net margin of 3.53%.The business had revenue of $481.20 million during the quarter, compared to analysts’ expectations of $478.63 million. Equities analysts predict that Alta Equipment Group will post -1.92 earnings per share for the current year.

Institutional Trading of Alta Equipment Group

Several large investors have recently bought and sold shares of ALTG. Rhumbline Advisers grew its holdings in Alta Equipment Group by 15.9% in the first quarter. Rhumbline Advisers now owns 39,374 shares of the company’s stock valued at $185,000 after purchasing an additional 5,406 shares during the last quarter. Royce & Associates LP grew its holdings in Alta Equipment Group by 48.3% in the first quarter. Royce & Associates LP now owns 393,270 shares of the company’s stock valued at $1,844,000 after purchasing an additional 128,000 shares during the last quarter. Corton Capital Inc. acquired a new stake in Alta Equipment Group in the first quarter valued at $152,000. GSA Capital Partners LLP grew its holdings in Alta Equipment Group by 98.4% in the first quarter. GSA Capital Partners LLP now owns 358,290 shares of the company’s stock valued at $1,680,000 after purchasing an additional 177,685 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Alta Equipment Group in the first quarter valued at $436,000. Institutional investors and hedge funds 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.