Alta Equipment Group (NYSE:ALTG) Announces Quarterly Earnings Results

Alta Equipment Group (NYSE:ALTG) issued its quarterly earnings data on Wednesday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03), Zacks reports. Alta Equipment Group had a negative return on equity of 42.09% and a negative net margin of 2.81%.

Alta Equipment Group Stock Up 6.6 %

Alta Equipment Group stock traded up $0.32 during mid-day trading on Wednesday, reaching $5.08. The company’s stock had a trading volume of 282,299 shares, compared to its average volume of 162,519. The company has a market capitalization of $168.77 million, a price-to-earnings ratio of -2.99 and a beta of 1.81. Alta Equipment Group has a 12 month low of $4.65 and a 12 month high of $13.67. The business’s 50 day simple moving average is $6.82 and its 200 day simple moving average is $6.82. The company has a debt-to-equity ratio of 7.45, a quick ratio of 0.43 and a current ratio of 1.35.

Alta Equipment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Saturday, February 15th were given a $0.057 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is currently -12.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James lowered their price objective on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Northland Capmk downgraded shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Northland Securities reissued a “market perform” rating and set a $20.00 price objective (down previously from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Alta Equipment Group has a consensus rating of “Hold” and a consensus price target of $15.75.

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.