Equities Analysts Offer Predictions for ALTG FY2029 Earnings

Alta Equipment Group Inc. (NYSE:ALTG) – Research analysts at Northland Capmk issued their FY2029 earnings per share estimates for Alta Equipment Group in a note issued to investors on Tuesday, March 18th. Northland Capmk analyst E. Jackson forecasts that the company will post earnings per share of $0.50 for the year. The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.92) per share.

Separately, Raymond James decreased 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 Stock Down 4.0 %

NYSE:ALTG opened at $5.12 on Friday. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35. The company has a market cap of $168.08 million, a PE ratio of -3.01 and a beta of 1.81. Alta Equipment Group has a 52-week low of $4.45 and a 52-week high of $13.67. The stock has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $6.68.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALTG. Charles Schwab Investment Management Inc. lifted its position in shares of Alta Equipment Group by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock valued at $529,000 after buying an additional 4,747 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Alta Equipment Group in the third quarter valued at approximately $2,646,000. Mill Road Capital Management LLC lifted its position in shares of Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock valued at $28,397,000 after buying an additional 650,214 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Alta Equipment Group in the third quarter valued at approximately $160,000. Finally, State Street Corp lifted its position in shares of Alta Equipment Group by 2.5% in the third quarter. State Street Corp now owns 485,892 shares of the company’s stock valued at $3,275,000 after buying an additional 11,946 shares during the last quarter. 73.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alta Equipment Group

In related news, COO Craig Brubaker sold 5,294 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the transaction, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.90% of the company’s stock.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors 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 annualized dividend and a yield of 4.46%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -11.22%.

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.