Alta Equipment Group (NYSE:ALTG) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of Alta Equipment Group (NYSE:ALTG) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports. B. Riley also issued estimates for Alta Equipment Group’s Q2 2025 earnings at ($0.30) EPS and Q3 2025 earnings at ($0.30) EPS.

Separately, Raymond James lowered their price target on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.63.

Alta Equipment Group Price Performance

Shares of NYSE ALTG opened at $4.94 on Wednesday. The firm has a market cap of $162.33 million, a P/E ratio of -2.91 and a beta of 1.81. Alta Equipment Group has a twelve month low of $4.45 and a twelve month high of $13.67. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The company has a 50 day moving average of $6.26 and a 200 day moving average of $6.64.

Alta Equipment Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were paid a $0.057 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 4.62%. Alta Equipment Group’s dividend payout ratio (DPR) is currently -11.22%.

Insider Buying and Selling

In related news, COO Craig Brubaker sold 5,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares in the company, valued at approximately $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALTG. Charles Schwab Investment Management Inc. raised its holdings in Alta Equipment Group by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,454 shares of the company’s stock worth $529,000 after purchasing an additional 4,747 shares during the period. Paloma Partners Management Co purchased a new stake in Alta Equipment Group in the third quarter worth about $2,646,000. Mill Road Capital Management LLC raised its stake in shares of Alta Equipment Group by 18.2% in the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock worth $28,397,000 after buying an additional 650,214 shares during the period. Quantinno Capital Management LP purchased a new position in shares of Alta Equipment Group during the 3rd quarter valued at about $160,000. Finally, State Street Corp grew its stake in shares of Alta Equipment Group by 2.5% during the 3rd quarter. State Street Corp now owns 485,892 shares of the company’s stock valued at $3,275,000 after acquiring an additional 11,946 shares during the period. 73.58% of the stock is currently owned by institutional investors.

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.