Alta Equipment Group (NYSE:ALTG) Upgraded at B. Riley

B. Riley upgraded shares of Alta Equipment Group (NYSE:ALTG - Free Report) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports. B. Riley also issued estimates for Alta Equipment Group's Q2 2025 earnings at ($0.30) EPS and Q3 2025 earnings at ($0.30) EPS.

Separately, Raymond James reduced their price objective on shares of 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. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alta Equipment Group has a consensus rating of "Moderate Buy" and an average price target of $12.63.

Alta Equipment Group Stock Performance

NYSE:ALTG traded down $0.12 during mid-day trading on Wednesday, hitting $4.57. The stock had a trading volume of 39,206 shares, compared to its average volume of 203,613. The company's 50 day simple moving average is $6.15 and its 200 day simple moving average is $6.63. The stock has a market cap of $150.17 million, a price-to-earnings ratio of -2.69 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 twelve month low of $4.35 and a twelve month high of $13.67.

Alta Equipment Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were paid a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 annualized dividend and a yield of 4.99%. Alta Equipment Group's dividend payout ratio (DPR) is presently -11.22%.

Insiders Place Their Bets

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares in the company, valued at $493,200. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 19.90% of the company's stock.

Institutional Investors Weigh In On Alta Equipment Group

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new position in shares of Alta Equipment Group in the fourth quarter worth $69,000. Intech Investment Management LLC bought a new position in Alta Equipment Group in the 4th quarter valued at about $79,000. Wells Fargo & Company MN raised its position in shares of Alta Equipment Group by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company's stock valued at $82,000 after buying an additional 4,272 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alta Equipment Group by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company's stock worth $90,000 after acquiring an additional 2,375 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Alta Equipment Group by 49.4% during the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company's stock worth $133,000 after acquiring an additional 6,716 shares in the last quarter. 73.58% of the stock is currently owned by institutional investors.

Alta Equipment Group Company Profile

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.