Alta Equipment Group (NYSE:ALTG) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Alta Equipment Group (NYSE:ALTG - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03), Zacks reports. Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 42.09%. The business had revenue of $498.10 million for the quarter, compared to analyst estimates of $485.48 million. During the same period in the previous year, the firm posted $0.04 earnings per share.

Alta Equipment Group Stock Performance

Alta Equipment Group stock traded down $0.26 during trading hours on Friday, reaching $4.80. 404,374 shares of the company were exchanged, compared to its average volume of 172,311. Alta Equipment Group has a 12 month low of $4.65 and a 12 month high of $13.67. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 7.45. The stock has a 50-day moving average of $6.71 and a 200 day moving average of $6.80. The firm has a market cap of $159.46 million, a price-to-earnings ratio of -2.82 and a beta of 1.81.

Alta Equipment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors 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 4.75%. The ex-dividend date was Friday, February 14th. Alta Equipment Group's payout ratio is -12.94%.

Analyst Ratings Changes

Several equities analysts have weighed in on ALTG shares. Northland Capmk cut Alta Equipment Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Raymond James lowered their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a "market perform" rating on the stock in a research report on Thursday, November 14th. Finally, Northland Securities reiterated a "market perform" rating and issued a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Alta Equipment Group presently has an average rating of "Hold" and a consensus target price of $15.75.

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Insider Activity

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