B. Riley Begins Coverage on Alta Equipment Group (NYSE:ALTG)

Equities research analysts at B. Riley initiated coverage on shares of Alta Equipment Group (NYSE:ALTG) in a report issued on Thursday. The firm set a “buy” rating and a $10.00 price target on the stock. B. Riley’s target price would suggest a potential upside of 117.63% from the company’s current price. 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 reduced their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.63.

Alta Equipment Group Trading Down 7.0 %

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

Insider Buying and Selling

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the transaction, the chief operating officer now owns 98,640 shares in the company, valued at approximately $493,200. This represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alta Equipment Group

Several hedge funds and other institutional investors have recently made changes to their positions in ALTG. LPL Financial LLC raised its stake in Alta Equipment Group by 1.5% during the 4th 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 in the last quarter. Rhumbline Advisers raised its stake in shares of 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 purchasing an additional 1,827 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Alta Equipment Group by 5.2% in the third quarter. SkyView Investment Advisors LLC now owns 47,576 shares of the company’s stock worth $321,000 after purchasing an additional 2,351 shares during the period. SG Americas Securities LLC lifted its holdings in Alta Equipment Group by 20.8% in the fourth quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock worth $90,000 after purchasing an additional 2,375 shares during the period. Finally, Barclays PLC grew its position in Alta Equipment Group by 10.8% in the 4th quarter. Barclays PLC now owns 42,479 shares of the company’s stock valued at $278,000 after buying an additional 4,152 shares in the last quarter. 73.58% of the stock is currently owned by institutional investors and hedge funds.

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.