Alta Equipment GroupALTG
ALTG
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
0
Funds holding %
of 6,823 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
8% more repeat investments, than reductions
Existing positions increased: 41 | Existing positions reduced: 38
3.64% less ownership
Funds ownership: 72.19% [Q2] → 68.55% (-3.64%) [Q3]
11% less funds holding
Funds holding: 115 [Q2] → 102 (-13) [Q3]
21% less capital invested
Capital invested by funds: $192M [Q2] → $153M (-$39.6M) [Q3]
33% less funds holding in top 10
Funds holding in top 10: 3 [Q2] → 2 (-1) [Q3]
44% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 27
56% less call options, than puts
Call options by funds: $960K | Put options by funds: $2.18M
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$9
18%
upside
Avg. target
$14.50
90%
upside
High target
$20
161%
upside
2 analyst ratings
0 positive
0%
2 neutral
100%
0 negative
0%
Raymond James Bryan Fast 100% 1-year accuracy 1 / 1 met price target | 18%upside $9 | Market Perform Maintained | 14 Nov 2024 |
Northland Capital Markets Ted Jackson 40% 1-year accuracy 4 / 10 met price target | 161%upside $20 | Market Perform Downgraded | 13 Nov 2024 |
Financial journalist opinion
Neutral
GlobeNewsWire
2 weeks ago
Alta Equipment Group Announces Preferred Stock Dividend
LIVONIA, Mich., Jan. 03, 2025 (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 January 31, 2025, to shareholders of record at the close of business on January 15, 2025.
Neutral
Seeking Alpha
1 month ago
Alta Equipment Group: Weighing Potential Returns Against Material Uncertainty
Alta Equipment Group operates a compelling business model as an exclusive regional distributor and rental equipment provider for several construction and material handling OEM's. The company's management appears capable, but may be wearing rose-colored glasses when projecting future prospects. An investment in Alta provides an opportunity for great returns, but not without significant uncertainty and risk.
Negative
Zacks Investment Research
1 month ago
New Strong Sell Stocks for November 22nd
ATI, AKBA and ALTG have been added to the Zacks Rank #5 (Strong Sell) List on November 22, 2024.
Neutral
Seeking Alpha
2 months ago
Alta Equipment Group Inc. (ALTG) Q3 2024 Earnings Call Transcript
Alta Equipment Group Inc. (NYSE:ALTG ) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Jason Dammeyer - Director of SEC Reporting & Technical Accounting Ryan Greenawalt - Chairman & CEO Tony Colucci - Chief Financial Officer Conference Call Participants Canyon Hayes - D.A. Davidson Steven Ramsey - Thompson Research Group Ted Jackson - Northland Securities Min Cho - B.
Negative
Zacks Investment Research
2 months ago
Alta Equipment (ALTG) Reports Q3 Loss, Lags Revenue Estimates
Alta Equipment (ALTG) came out with a quarterly loss of $0.86 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to earnings of $0.20 per share a year ago.
Neutral
GlobeNewsWire
2 months ago
Alta Equipment Group Announces Third Quarter 2024 Financial Results
Third Quarter Financial Highlights: Total revenues decreased $17.4 million year over year to $448.8 million Construction Equipment and Material Handling revenues of $262.3 million and $168.9 million, respectively Product support revenues increased 7.8% year over year with Parts sales increasing to $75.6 million and Service revenues increasing to $64.6 million New and used equipment sales decreased 13.3% year over year to $219.8 million Net loss available to common stockholders of $(28.4) million Basic and diluted net loss per share of $(0.86) Adjusted basic and diluted net loss per share* of $(0.72) Adjusted EBITDA* of $43.2 million Third quarter 2024 net loss was impacted by a $14.0 million discrete tax expense from increasing the valuation allowance on our deferred tax assets, specifically related to 163(j) interest limitations Additionally, on October 30, 2024, the Company's Board of Directors approved an increase to the share buyback authorization from $12.5 million to $20.0 million LIVONIA, Mich., Nov. 12, 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 third quarter ended September 30, 2024.
Neutral
GlobeNewsWire
2 months ago
Alta Equipment Group Announces Date of Third Quarter 2024 Financial Results Release, Conference Call and Webcast
LIVONIA, Mich., Nov. 07, 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 third quarter ended September 30, 2024, after the U.S. markets close on Tuesday, November 12, 2024.
Positive
Zacks Investment Research
2 months ago
Alta Equipment (ALTG) Moves 15.8% Higher: Will This Strength Last?
Alta Equipment (ALTG) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Neutral
GlobeNewsWire
2 months ago
Alta Equipment Group Announces Common Stock Dividend
LIVONIA, Mich., Nov. 04, 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.
Neutral
Seeking Alpha
3 months ago
Alta Equipment: Overlooked And Undervalued
Alta's earnings power is more durable than appears with Parts & Services segment driving high margin, recurring revenue growth. Despite appearing highly levered, Alta enjoys subsidized floor plan financing and is well capitalized to weather temporary headwinds. Alta's rental fleet flexibility reveals hidden asset value and significant cash generation potential in the coming quarters.
Charts implemented using Lightweight Charts™