Alta Equipment Group (NYSE:ALTG) Releases Earnings Results, Misses Expectations By $0.03 EPS

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

Alta Equipment Group Price Performance

Alta Equipment Group stock traded up $0.32 during midday trading on Wednesday, reaching $5.08. 282,299 shares of the stock traded hands, compared to its average volume of 162,519. The stock has a market cap of $168.77 million, a P/E ratio of -2.99 and a beta of 1.81. The stock’s fifty day moving average is $6.82 and its 200-day moving average is $6.82. 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 12 month low of $4.65 and a 12 month high of $13.67.

Alta Equipment Group Dividend Announcement

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

Analyst Ratings Changes

ALTG has been the topic of a number of recent analyst reports. Northland Capmk cut Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Raymond James decreased their target price on Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Finally, Northland Securities restated a “market perform” rating and issued a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Alta Equipment Group presently has an average rating of “Hold” and a consensus target price 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.