What is Northland Capmk’s Forecast for ALTG FY2029 Earnings?

Alta Equipment Group Inc. (NYSE:ALTG) – Equities researchers at Northland Capmk issued their FY2029 earnings estimates for shares of Alta Equipment Group in a research note issued 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 lowered their price target 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.

Alta Equipment Group Price Performance

Shares of ALTG stock opened at $5.12 on Friday. 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 company has a market capitalization of $168.08 million, a P/E ratio of -3.01 and a beta of 1.81. The company’s 50-day simple moving average is $6.42 and its two-hundred day simple moving average is $6.68. Alta Equipment Group has a one year low of $4.45 and a one year high of $13.67.

Alta Equipment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 4.46%. Alta Equipment Group’s payout ratio is presently -11.22%.

Insider Transactions 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 shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the sale, the chief operating officer now owns 98,640 shares of the company’s stock, valued at $493,200. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On Alta Equipment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC lifted its position in Alta Equipment Group by 1.5% during the fourth quarter. LPL Financial LLC now owns 118,942 shares of the company’s stock valued at $778,000 after acquiring an additional 1,774 shares during the last quarter. Rhumbline Advisers lifted its position in Alta Equipment Group by 5.7% during the fourth quarter. Rhumbline Advisers now owns 33,968 shares of the company’s stock valued at $222,000 after acquiring an additional 1,827 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in Alta Equipment Group by 5.2% during the third quarter. SkyView Investment Advisors LLC now owns 47,576 shares of the company’s stock valued at $321,000 after acquiring an additional 2,351 shares during the last quarter. SG Americas Securities LLC lifted its position in Alta Equipment Group by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after acquiring an additional 2,375 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Alta Equipment Group by 10.8% in the fourth quarter. Barclays PLC now owns 42,479 shares of the company’s stock worth $278,000 after buying an additional 4,152 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.

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.