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

Alta Equipment Group Inc. (NYSE:ALTG – Get Rating) – Equities research analysts at Northland Capmk lowered their Q1 2023 earnings estimates for shares of Alta Equipment Group in a report released 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 prior estimate 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.

Other equities analysts have also issued research reports about the company. Raymond James boosted their target price on Alta Equipment Group from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, March 10th. B. Riley upped their price target on shares of Alta Equipment Group from $19.00 to $25.00 in a research report on Friday, March 10th.

Alta Equipment Group Price Performance

ALTG opened at $15.08 on Friday. The stock has a 50-day moving average price of $17.24 and a 200-day moving average price of $13.93. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.41 and a quick ratio of 0.56. The firm has a market cap of $485.43 million, a PE ratio of 75.40 and a beta of 1.56. Alta Equipment Group has a 1 year low of $8.65 and a 1 year high of $20.60.

Alta Equipment Group Dividend Announcement

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

Institutional Trading of Alta Equipment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ALTG. Advisor Group Holdings Inc. increased its stake in Alta Equipment Group by 280.0% in the first quarter. Advisor Group Holdings Inc. now owns 7,109 shares of the company’s stock worth $88,000 after purchasing an additional 5,238 shares during the period. American Century Companies Inc. bought a new position in shares of Alta Equipment Group during the 1st quarter worth $147,000. MetLife Investment Management LLC boosted its position in Alta Equipment Group by 54.9% during the first quarter. MetLife Investment Management LLC now owns 10,902 shares of the company’s stock valued at $135,000 after purchasing an additional 3,862 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Alta Equipment Group by 50.0% during the first quarter. Dimensional Fund Advisors LP now owns 180,799 shares of the company’s stock valued at $2,235,000 after purchasing an additional 60,253 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in Alta Equipment Group by 54.7% during the first quarter. Ancora Advisors LLC now owns 101,581 shares of the company’s stock valued at $1,321,000 after purchasing an additional 35,905 shares in the last quarter. Hedge funds and other institutional investors own 63.54% of the company’s stock.

Alta Equipment Group Company Profile

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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.