Alta Equipment Group (NYSE:ALTG) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Alta Equipment Group (NYSE:ALTG) posted its quarterly earnings data on Monday. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11), Zacks reports. Alta Equipment Group had a negative return on equity of 3,253.61% and a negative net margin of 2.77%. The firm had revenue of $417.40 million during the quarter, compared to analyst estimates of $452.30 million.

Alta Equipment Group Stock Down 0.1%

Shares of NYSE ALTG opened at $4.96 on Wednesday. Alta Equipment Group has a 12 month low of $4.16 and a 12 month high of $8.69. The company has a market cap of $162.17 million, a P/E ratio of -3.02 and a beta of 1.76. The business’s 50 day moving average is $6.24 and its two-hundred day moving average is $6.50.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Northland Securities set a $12.00 price target on Alta Equipment Group in a report on Friday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alta Equipment Group in a research report on Wednesday, August 26th. Finally, Citigroup reissued an “outperform” rating on shares of Alta Equipment Group in a research report on Friday, September 25th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.83.

About Alta Equipment Group

Alta Equipment Group Inc. is an equipment dealership and rental company that provides machinery, parts, service and support to customers in the construction, industrial, manufacturing, warehousing and related sectors. The company operates through construction and material-handling businesses, serving contractors, businesses and public-sector organizations. Its construction equipment offerings include earthmoving machinery, aerial work platforms, cranes, compact equipment and other jobsite products.