Alta Equipment Group
ALTG

$6.09

8.28%

Market Cap: $202M

About: Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling and Construction Equipment. The Material Handling segment is engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana, New York, Virginia, and throughout the New England states whereas, the Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Indiana, Illinois, Ohio, New York, Florida and throughout the New England States.

Employees: 3,000

Industrials Industrial Machinery & Equipment

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

23% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 39

2.82% less ownership

Funds ownership: 74.74% [Q1] → 71.92% (-2.82%) [Q2]

7% less funds holding

Funds holding: 123 [Q1] → 115 (-8) [Q2]

25% less funds holding in top 10

Funds holding in top 10: 4 [Q1] → 3 (-1) [Q2]

27% less first-time investments, than exits

New positions opened: 22 | Existing positions closed: 30

40% less capital invested

Capital invested by funds: $317M [Q1] → $192M (-$126M) [Q2]

66% less call options, than puts

Call options by funds: $1.07M | Put options by funds: $3.12M

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$10

64%

upside

Avg. target

$11

81%

upside

High target

$12

97%

upside

2 analyst ratings

1 positive

50%

1 neutral

50%

0 negative

0%

DA Davidson Matt Summerville 41% 1-year accuracy 11 / 27 met price target	97%upside $12	Buy Maintained	13 Aug 2024
Raymond James Bryan Fast 100% 1-year accuracy 1 / 1 met price target	64%upside $10	Market Perform Downgraded	9 Aug 2024

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Financial journalist opinion

Alta Equipment Group Inc. (ALTG) Q2 2024 Earnings Call Transcript

Alta Equipment Group Inc. (NYSE:ALTG ) Q2 2024 Earnings Call Transcript August 7, 2024 5:00 PM ET Company Participants Jason Dammeyer - Investor Relations Ryan Greenawalt - Chairman & Chief Executive Officer Tony Colucci - Chief Financial Officer Conference Call Participants Canyon Hayes - D.A. Davidson Steve Hansen - Raymond James Steven Ramsey - Thompson Research Group Alex Rygiel - B.

Alta Equipment Group Inc. (ALTG) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Alta Equipment (ALTG) Reports Q2 Loss, Misses Revenue Estimates

Alta Equipment (ALTG) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to earnings of $0.19 per share a year ago.

Alta Equipment (ALTG) Reports Q2 Loss, Misses Revenue Estimates

Alta Equipment Group Announces Second Quarter 2024 Financial Results

Second Quarter Financial Highlights: Total revenues increased $19.7 million year over year to $488.1 million Construction Equipment and Material Handling revenues of $294.9 million and $175.6 million, respectively Product support revenues increased 10.1% year over year with Parts sales increasing to $78.0 million and Service revenues increasing to $66.2 million New and used equipment sales decreased 1.2% year over year to $251.5 million Net loss available to common stockholders of $(12.6) million Basic and diluted net loss per share of $(0.38) Adjusted basic and diluted net income per share* of $0.01 Adjusted EBITDA* of $50.3 million LIVONIA, Mich., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”, "we", "our" or the “Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced financial results for the second quarter ended June 30, 2024.

Alta Equipment Group Announces Second Quarter 2024 Financial Results

Alta Equipment Group Announces Common Stock Dividend

LIVONIA, Mich., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is August 30, 2024, to shareholders of record at the close of business on August 15, 2024.

Alta Equipment Group Announces Common Stock Dividend

Alta Equipment Group Announces Date of Second Quarter 2024 Financial Results Release, Conference Call and Webcast

LIVONIA, Mich., July 24, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or “the Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the second quarter ended June 30, 2024, after the U.S. markets close on Wednesday, August 7, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that afternoon at 5:00 p.m. Eastern Time to discuss and answer questions about the Company's financial results. Prior to the conference call and webcast, Alta will issue a press release and supplementary presentation slides reporting these results on the Investors portion of the Company's website, https://investors.altaequipment.com .

Alta Equipment Group Announces Date of Second Quarter 2024 Financial Results Release, Conference Call and Webcast

Alta Equipment Group Announces Preferred Stock Dividend

LIVONIA, Mich., July 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or “the Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is July 31, 2024, to shareholders of record at the close of business on July 15, 2024.

Alta Equipment Group Announces Preferred Stock Dividend

Zacks Investment Research

Is the Options Market Predicting a Spike in Alta Equipment (ALTG) Stock?

Investors need to pay close attention to Alta Equipment (ALTG) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Alta Equipment (ALTG) Stock?

Alta Equipment Group Announces Pricing of Private Offering of $500 Million of Senior Secured Second Lien Notes due 2029

LIVONIA, Mich., May 21, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or the “Company”), announced today that it has priced $500 million in aggregate principal amount of its 9.000% senior secured second lien notes due 2029 (the “notes”) at an issue price of 97.094% of face amount in a private offering (the “offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The offering of the notes is expected to close on June 5, 2024, subject to customary closing conditions.

Alta Equipment Group Announces Pricing of Private Offering of $500 Million of Senior Secured Second Lien Notes due 2029

Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes

LIVONIA, Mich., May 20, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or the “Company”), today announced that it intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of its senior secured second lien notes due 2029 in a private offering (the “offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The notes will be guaranteed by all of the Company's domestic subsidiaries and will be secured by a second lien on substantially all of the assets of the Company and its domestic subsidiaries. Concurrent with the closing of the offering, the Company expects to amend and extend its existing $485 million senior secured asset-based revolving credit facility due 2026 (the “Existing ABL Facility”) and $70 million floor plan facility due 2026 (the “Existing Floor Plan Facility”) with a $520 million senior secured asset-based revolving credit facility due 2029 (the “New ABL Facility”) and a $90 million floor plan facility due 2029 (together with the New ABL Facility, the “First Lien Facilities”). The First Lien Facilities will be secured by a first-priority lien on the same assets securing the notes. The Company intends to use the net proceeds from the offering, together with the proceeds of new borrowings under the First Lien Facilities, (i) to refinance a portion of the Existing ABL Facility and the Existing Floor Plan Facility prior to the amendments thereto, pay accrued and unpaid interest thereon, and pay related fees and expenses thereto, (ii) to redeem all of its outstanding 5.625% Senior Secured Second Lien Notes due 2026 (the “Existing Notes”), pay the premium, accrued and unpaid interest thereon, and pay related fees and expenses thereto, and (iii) for general corporate purposes to the extent there are any remaining proceeds. The offering and related refinancing is expected to be leverage neutral for the Company.

Alta Equipment Group Announces Proposed Private Offering of $500 Million of Senior Secured Second Lien Notes

Alta Equipment Group Inc. (ALTG) Q1 2024 Earnings Call Transcript

Alta Equipment Group Inc. (NYSE:ALTG ) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET Company Participants Jason Dammeyer - IR Ryan Greenawalt - Chairman and CEO Tony Colucci - CFO Conference Call Participants Matt Summerville - D.A. Davidson Kathryn Thompson - Thompson Research Group Alex Rygiel - B.

Alta Equipment Group Inc. (ALTG) Q1 2024 Earnings Call Transcript

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