Alta Equipment Group (ALTG) Stock Price, News & Analysis

Company Overview

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. It also offers repair and maintenance services for its equipment. In addition, the company designs and builds warehouses; provides automated equipment installation and system integration solutions; and distributes environmental processing equipment. It serves various manufacturing, food and beverage, automotive, municipal/government, education, pharmaceutical and medical, wholesale and retail distribution, construction, agriculture, road building, mining, recycling, and waste management sectors. Alta Equipment Group Inc. was founded in 1984 and is headquartered in Livonia, Michigan.

Key Stats

• Today's Range: $7.12 to $7.49
• 50-Day Range: $5.76 to $8.46
• 52-Week Range: $5.40 to $13.67
• Volume: 445,224 shs
• Average Volume: 405,581 shs
• Market Capitalization: $246.85 million
• P/E Ratio: N/A
• Dividend Yield: 3.08%
• Price Target: $15.75
• Consensus Rating: Hold

Alta Equipment Group Stock Analysis - MarketRank™

Alta Equipment Group scored higher than 53% of companies evaluated by MarketBeat, and ranked 112th out of 178 stocks in the industrial products sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.2 / 5
• Analyst Rating: Hold

Consensus Rating

Alta Equipment Group has received a consensus rating of Hold. The company's average rating score is 2.40, and is based on 2 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Alta Equipment Group has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Alta Equipment Group are expected to grow in the coming year, from ($1.71) to ($0.88) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Alta Equipment Group is -4.39, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Alta Equipment Group is -4.39, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Alta Equipment Group has a P/B Ratio of 1.61. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

13.83% of the float of Alta Equipment Group has been sold short.

Short Interest Ratio / Days to Cover

Alta Equipment Group has a short interest ratio ("days to cover") of 8.5.

Change versus previous month

Short interest in Alta Equipment Group has recently decreased by 1.07%, indicating that investor sentiment is improving.

Dividend

• Score: 0.8 / 5
• Dividend Strength: Weak

Dividend Yield

Alta Equipment Group pays a meaningful dividend of 3.26%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Alta Equipment Group does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

13.83% of the float of Alta Equipment Group has been sold short.

Short Interest Ratio / Days to Cover

Alta Equipment Group has a short interest ratio ("days to cover") of 8.5.

Change versus previous month

Short interest in Alta Equipment Group has recently decreased by 1.07%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.5 / 5
• News Sentiment: -0.27

News Sentiment

Alta Equipment Group has a news sentiment score of -0.27. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.76 average news sentiment score of Industrial Products companies.

News Coverage This Week

MarketBeat has tracked 24 news articles for Alta Equipment Group this week, compared to 2 articles on an average week.

MarketBeat Follows

1 people have added Alta Equipment Group to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Alta Equipment Group insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $71,372.00 in company stock.

Percentage Held by Insiders

19.90% of the stock of Alta Equipment Group is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

73.58% of the stock of Alta Equipment Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

ALTG Stock Analysis - Frequently Asked Questions

How have ALTG shares performed this year?

Alta Equipment Group's stock was trading at $12.37 at the beginning of 2024. Since then, ALTG stock has decreased by 39.7% and is now trading at $7.46.
View the best growth stocks for 2024 here.

How were Alta Equipment Group's earnings last quarter?

Alta Equipment Group Inc. (NYSE:ALTG) posted its quarterly earnings data on Wednesday, August, 7th. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by $0.34. The business earned $488.10 million during the quarter, compared to the consensus estimate of $497.57 million. Alta Equipment Group had a negative net margin of 2.81% and a negative trailing twelve-month return on equity of 42.09%.

Who are Alta Equipment Group's major shareholders?

Alta Equipment Group's top institutional shareholders include Mill Road Capital Management LLC (12.73%), Geode Capital Management LLC (1.62%), State Street Corp (1.47%) and Paloma Partners Management Co (1.19%). Insiders that own company stock include Ryan Greenawalt, Mill Road Capital Iii, LP, Voss Capital, Lp, Daniel Shribman, B Riley Financial, Inc, Voss Capital, Llc, Anthony Colucci, Zachary E Savas, Craig Brubaker and Jeffrey Alan Hoover.
View institutional ownership trends.

How do I buy shares of Alta Equipment Group?

Shares of ALTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Alta Equipment Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Alta Equipment Group investors own include Invesco QQQ (QQQ), NVIDIA (NVDA), Meta Platforms (META), SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF Trust (DIA), Broadcom (AVGO) and Advanced Micro Devices (AMD).

Company Calendar

• Last Earnings: 8/07/2024
• Ex-Dividend for 8/30 Dividend: 8/15/2024
• Dividend Payable: 8/30/2024
• Ex-Dividend for 11/29 Dividend: 11/15/2024
• Today: 11/20/2024
• Dividend Payable: 11/29/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 3/13/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Industrial Products
• Industry: Industrial machinery & equipment
• Sub-Industry: Wholesale
• Current Symbol: NYSE:ALTG
• CUSIP: N/A
• CIK: 1759824
• Web: www.altaequipment.com
• Phone: (248) 449-6700
• Fax: N/A
• Employees: 3,000
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $15.75
• High Stock Price Target: $22.00
• Low Stock Price Target: $9.00
• Potential Upside/Downside: +111.1%
• Consensus Rating: Hold
• Rating Score (0-4): 2.40
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($1.70)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $8.90 million
• Net Margins: -2.81%
• Pretax Margin: -2.54%
• Return on Equity: -42.09%
• Return on Assets: -3.40%

Debt

• Debt-to-Equity Ratio: 7.45
• Current Ratio: 1.35
• Quick Ratio: 0.43

Sales & Book Value

• Annual Sales: $1.88 billion
• Price / Sales: 0.13
• Cash Flow: $4.72 per share
• Price / Cash Flow: 1.58
• Book Value: $4.62 per share
• Price / Book: 1.61

Miscellaneous

• Outstanding Shares: 33,090,000
• Free Float: 26,507,000
• Market Cap: $246.85 million
• Optionable: Optionable
• Beta: 1.67