Q3 2024 Earnings Forecast for Alta Equipment Group Inc. (NYSE:ALTG) Issued By Northland Capmk

Alta Equipment Group Inc. (NYSE:ALTG) – Investment analysts at Northland Capmk decreased their Q3 2024 EPS estimates for Alta Equipment Group in a report issued on Wednesday, October 2nd. Northland Capmk analyst E. Jackson now expects that the company will earn ($0.29) per share for the quarter, down from their prior forecast of ($0.21). The consensus estimate for Alta Equipment Group’s current full-year earnings is ($1.04) per share. Northland Capmk also issued estimates for Alta Equipment Group’s Q4 2024 earnings at ($0.21) EPS, FY2024 earnings at ($1.26) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.47) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.25 EPS.

Several other research analysts have also issued reports on the stock. Raymond James reissued a “market perform” rating and set a $10.00 target price (down from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th. DA Davidson cut their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

Alta Equipment Group Stock Down 0.2 %

Alta Equipment Group stock opened at $6.20 on Friday. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37. Alta Equipment Group has a 52-week low of $5.40 and a 52-week high of $13.67. The firm has a 50 day moving average price of $7.08 and a two-hundred day moving average price of $9.10. The firm has a market cap of $205.51 million, a price-to-earnings ratio of -29.52 and a beta of 1.67.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). The company had revenue of $488.10 million during the quarter, compared to analyst estimates of $497.57 million. Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. During the same quarter in the previous year, the business posted $0.16 earnings per share.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.057 per share. This represents a $0.23 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, August 15th. Alta Equipment Group’s dividend payout ratio is presently -104.76%.

Insider Activity

In other Alta Equipment Group news, major shareholder Mill Road Capital Iii, L.P. bought 179,414 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average cost of $8.05 per share, with a total value of $1,444,282.70. Following the transaction, the insider now directly owns 3,894,008 shares in the company, valued at approximately $31,346,764.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Andrew P. Studdert purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the purchase, the director now owns 86,591 shares of the company’s stock, valued at $489,239.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mill Road Capital Iii, L.P. purchased 179,414 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were purchased at an average price of $8.05 per share, with a total value of $1,444,282.70. Following the purchase, the insider now directly owns 3,894,008 shares in the company, valued at approximately $31,346,764.40. The disclosure for this purchase can be found here. Insiders acquired a total of 319,100 shares of company stock valued at $2,777,451 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mill Road Capital Management LLC boosted its stake in Alta Equipment Group by 23.5% in the 4th quarter. Mill Road Capital Management LLC now owns 2,361,002 shares of the company’s stock worth $29,206,000 after purchasing an additional 450,023 shares during the period. Vanguard Group Inc. boosted its stake in Alta Equipment Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,250,154 shares of the company’s stock worth $16,189,000 after purchasing an additional 8,962 shares during the period. Granahan Investment Management LLC boosted its stake in Alta Equipment Group by 11.4% in the 4th quarter. Granahan Investment Management LLC now owns 1,030,942 shares of the company’s stock worth $12,753,000 after purchasing an additional 105,783 shares during the period. Nantahala Capital Management LLC boosted its stake in Alta Equipment Group by 108.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock worth $6,739,000 after purchasing an additional 435,713 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Alta Equipment Group by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 567,974 shares of the company’s stock worth $4,567,000 after purchasing an additional 18,343 shares during the period. 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.