Equities Analysts Set Expectations for ALTG FY2029 Earnings

Alta Equipment Group Inc. (NYSE:ALTG - Free Report) - Northland Capmk issued their FY2029 earnings estimates for Alta Equipment Group in a research note issued to investors on Tuesday, March 18th. Northland Capmk analyst E. Jackson anticipates that the company will earn $0.50 per share for the year. The consensus estimate for Alta Equipment Group's current full-year earnings is ($1.92) per share.

Separately, Raymond James dropped their price objective on Alta Equipment Group from $9.00 to $8.50 and set a "market perform" rating for the company in a report on Monday, March 10th.

Alta Equipment Group Trading Down 6.6 %

Shares of ALTG stock traded down $0.34 during trading hours on Friday, reaching $4.79. The company had a trading volume of 336,622 shares, compared to its average volume of 311,274. Alta Equipment Group has a 1-year low of $4.45 and a 1-year high of $13.67. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The firm has a market cap of $157.40 million, a price-to-earnings ratio of -2.82 and a beta of 1.81. The company has a 50 day moving average of $6.35 and a 200 day moving average of $6.66.

Alta Equipment Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.76%. Alta Equipment Group's dividend payout ratio is -11.22%.

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Insider Activity

In other 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 sale, the chief operating officer now owns 98,640 shares of the company's stock, valued at $493,200. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.90% of the stock is owned by company insiders.

Institutional Trading of Alta Equipment Group

A number of large investors have recently bought and sold shares of the business. Portolan Capital Management LLC bought a new position in Alta Equipment Group in the fourth quarter valued at approximately $5,561,000. Mill Road Capital Management LLC lifted its position in Alta Equipment Group by 18.2% in the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company's stock valued at $28,397,000 after acquiring an additional 650,214 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Alta Equipment Group in the 4th quarter valued at $2,589,000. Paloma Partners Management Co acquired a new position in Alta Equipment Group in the 3rd quarter worth $2,646,000. Finally, CastleKnight Management LP increased its holdings in Alta Equipment Group by 70.2% during the 4th quarter. CastleKnight Management LP now owns 540,986 shares of the company's stock worth $3,538,000 after purchasing an additional 223,072 shares in the last quarter. 73.58% of the stock is owned by institutional investors.

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.