Alta Equipment Group (NYSE:ALTG) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

by · The Markets Daily

Alta Equipment Group (NYSE:ALTG – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.11), Zacks reports. The company had revenue of $417.40 million for the quarter, compared to the consensus estimate of $452.30 million. Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 4.42%.

Alta Equipment Group Stock Performance

Shares of NYSE:ALTG opened at $6.01 on Tuesday. The stock has a market capitalization of $196.51 million, a price-to-earnings ratio of -2.34 and a beta of 1.76. Alta Equipment Group has a 1-year low of $4.16 and a 1-year high of $8.69. The company’s fifty day moving average is $6.26 and its two-hundred day moving average is $6.51.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Northland Securities set a $12.00 target price on Alta Equipment Group in a report on Friday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alta Equipment Group in a research report on Wednesday, August 26th. Finally, Citigroup reiterated an “outperform” rating on shares of Alta Equipment Group in a research report on Friday, September 25th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.83.

Read Our Latest Report on ALTG

About Alta Equipment Group

(Get Free Report)

Alta Equipment Group Inc is an equipment dealership and rental company that provides machinery, parts, service and support to customers in the construction, industrial, manufacturing, warehousing and related sectors. The company operates through construction and material-handling businesses, serving contractors, businesses and public-sector organizations.

Its construction equipment offerings include earthmoving machinery, aerial work platforms, cranes, compact equipment and other jobsite products.

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