Alta Equipment Group (NYSE:ALTG) Upgraded by B. Riley to Strong-Buy Rating

B. Riley upgraded shares of Alta Equipment Group (NYSE:ALTG) to a strong-buy rating in a research 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 dropped their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alta Equipment Group presently has a consensus rating of “Moderate Buy” and an average price target of $12.63.

Alta Equipment Group Price Performance

NYSE:ALTG opened at $4.60 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. Alta Equipment Group has a 52 week low of $4.45 and a 52 week high of $13.67. The stock’s 50-day moving average price is $6.20 and its 200-day moving average price is $6.63. The stock has a market capitalization of $150.99 million, a PE ratio of -2.70 and a beta of 1.81.

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 paid a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s dividend payout ratio is presently -11.22%.

Insider Buying and Selling

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $5.00, for a total value of $26,470.00. Following the transaction, the chief operating officer now owns 98,640 shares in the company, valued at approximately $493,200. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alta Equipment Group

A number of hedge funds have recently modified their holdings of ALTG. Mill Road Capital Management LLC grew its stake in Alta Equipment Group by 1.3% during the 4th quarter. Mill Road Capital Management LLC now owns 4,269,508 shares of the company’s stock valued at $27,923,000 after acquiring an additional 56,300 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Alta Equipment Group in the fourth quarter valued at approximately $5,561,000. Dimensional Fund Advisors LP increased its holdings in shares of Alta Equipment Group by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 608,406 shares of the company’s stock valued at $3,979,000 after purchasing an additional 18,926 shares during the last quarter. Geode Capital Management LLC lifted its position in Alta Equipment Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 542,607 shares of the company’s stock worth $3,549,000 after buying an additional 6,692 shares in the last quarter. Finally, CastleKnight Management LP boosted its stake in Alta Equipment Group by 70.2% during the fourth quarter. CastleKnight Management LP now owns 540,986 shares of the company’s stock worth $3,538,000 after buying an additional 223,072 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

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.