Alta Equipment Group's (ALTG) "Market Perform" Rating Reiterated at Northland Securities

Alta Equipment Group (NYSE:ALTG - Get Free Report)'s stock had its "market perform" rating reaffirmed by stock analysts at Northland Securities in a report released on Wednesday, Marketbeat.com reports. They currently have a $20.00 target price on the stock, down from their previous target price of $30.00. Northland Securities' target price would suggest a potential upside of 150.94% from the stock's current price.

ALTG has been the topic of several other research reports. DA Davidson dropped their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Raymond James reiterated a "market perform" rating and issued a $10.00 price target (down from $14.00) on shares of Alta Equipment Group in a research report on Friday, August 9th.

Alta Equipment Group Price Performance

ALTG stock traded down $0.02 during trading on Wednesday, reaching $7.97. The company had a trading volume of 641,253 shares, compared to its average volume of 360,305. Alta Equipment Group has a 52 week low of $5.40 and a 52 week high of $13.67. The business has a 50 day moving average of $6.49 and a 200 day moving average of $7.89. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.64). Alta Equipment Group had a negative net margin of 2.81% and a negative return on equity of 38.90%. The firm had revenue of $448.80 million for the quarter, compared to analysts' expectations of $481.09 million. As a group, research analysts anticipate that Alta Equipment Group will post -1.08 earnings per share for the current year.

Insider Activity

In related news, major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the transaction, the insider now directly owns 963,689 shares in the company, valued at approximately $6,080,877.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALTG. Nantahala Capital Management LLC lifted its position in shares of Alta Equipment Group by 108.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company's stock worth $6,739,000 after buying an additional 435,713 shares during the last quarter. American Century Companies Inc. increased its holdings in Alta Equipment Group by 460.1% in the second quarter. American Century Companies Inc. now owns 211,585 shares of the company's stock worth $1,701,000 after buying an additional 173,810 shares during the last quarter. Register Financial Advisors LLC lifted its stake in Alta Equipment Group by 44.3% in the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company's stock valued at $2,699,000 after acquiring an additional 103,071 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Alta Equipment Group by 64.1% during the 1st quarter. Ancora Advisors LLC now owns 262,919 shares of the company's stock worth $3,405,000 after purchasing an additional 102,660 shares during the last quarter. Finally, JCP Investment Management LLC bought a new position in shares of Alta Equipment Group during the 2nd quarter valued at $721,000. 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.