Q1 2023 Earnings Forecast for Alta Equipment Group Inc. (NYSE:ALTG) Issued By Northland Capmk

Alta Equipment Group Inc. (NYSE:ALTG – Get Rating) – Research analysts at Northland Capmk cut their Q1 2023 EPS estimates for shares of Alta Equipment Group in a note issued to investors on Wednesday, March 15th. Northland Capmk analyst E. Jackson now forecasts that the company will post earnings of ($0.15) per share for the quarter, down from their previous forecast of ($0.08). The consensus estimate for Alta Equipment Group’s current full-year earnings is $0.33 per share. Northland Capmk also issued estimates for Alta Equipment Group’s FY2023 earnings at $0.07 EPS.

ALTG has been the topic of a number of other research reports. Raymond James boosted their price objective on shares of Alta Equipment Group from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, March 10th. B. Riley increased their price objective on shares of Alta Equipment Group from $19.00 to $25.00 in a research note on Friday, March 10th.

Alta Equipment Group Stock Down 10.2 %

Shares of Alta Equipment Group stock opened at $15.08 on Friday. The company has a fifty day moving average price of $17.24 and a 200 day moving average price of $13.93. The company has a current ratio of 1.41, a quick ratio of 0.56 and a debt-to-equity ratio of 3.89. Alta Equipment Group has a twelve month low of $8.65 and a twelve month high of $20.60. The stock has a market cap of $485.43 million, a price-to-earnings ratio of 75.40 and a beta of 1.56.

Alta Equipment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Wednesday, February 15th were issued a $0.057 dividend. This represents a $0.23 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is presently 115.01%.

Institutional Trading of Alta Equipment Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. lifted its position in Alta Equipment Group by 280.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,109 shares of the company’s stock worth $88,000 after buying an additional 5,238 shares in the last quarter. American Century Companies Inc. acquired a new position in Alta Equipment Group in the 1st quarter valued at $147,000. MetLife Investment Management LLC grew its stake in Alta Equipment Group by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 10,902 shares of the company’s stock valued at $135,000 after buying an additional 3,862 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Alta Equipment Group by 50.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,799 shares of the company’s stock valued at $2,235,000 after buying an additional 60,253 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in Alta Equipment Group by 54.7% in the 1st quarter. Ancora Advisors LLC now owns 101,581 shares of the company’s stock valued at $1,321,000 after buying an additional 35,905 shares during the last quarter. 63.54% of the stock is owned by institutional investors and hedge funds.

About Alta Equipment Group

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Alta Equipment Group, Inc engages in the operation of equipment dealership platforms. It operates through the following segments: Material Handling, Construction Equipment, and Corporate. The Material Handling segment includes the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, and New York.