Alta Equipment Group Inc. (NYSE:ALTG)’s traded shares stood at 1.36 million during the last session, with the company’s beta value hitting 1.56. At the close of trading, the stock’s price was $15.08, to imply a decrease of -10.24% or -$1.72 in intraday trading. The ALTG share’s 52-week high remains $20.60, putting it -36.6% down since that peak but still an impressive 42.64% since price per share fell to its 52-week low of $8.65. The company has a valuation of $550.27M, with an average of 0.53 million shares in intraday trading volume over the past 10 days and average of 206.19K shares over the past 3 months.
Analysts have given a consensus recommendation of a Buy for Alta Equipment Group Inc. (ALTG), translating to a mean rating of 2.00. Of 4 analyst(s) looking at the stock, 0 analyst(s) give ALTG a Sell rating. 1 of those analysts rate the stock as Overweight while 0 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.04.
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Alta Equipment Group Inc. (NYSE:ALTG) trade information
After registering a -10.24% downside in the last session, Alta Equipment Group Inc. (ALTG) has traded red over the past five days. The stock hit a weekly high of 17.36 this Friday, 03/17/23, dropping -10.24% in its intraday price action. The 5-day price performance for the stock is -11.29%, and -17.10% over 30 days. With these gigs, the year-to-date price performance is 14.33%. Short interest in Alta Equipment Group Inc. (NYSE:ALTG) saw shorts transact 0.19 million shares and set a 1.42 days time to cover.
Alta Equipment Group Inc. (ALTG) estimates and forecasts
Looking at statistics comparing Alta Equipment Group Inc. share performance against respective industry, we note that the company has outperformed competitors. Alta Equipment Group Inc. (ALTG) shares are 19.30% up over the last 6 months, with its year-to-date growth rate higher than industry average at 65.00% against 5.40%. Revenue is forecast to grow 180.00% this quarter before jumping 50.00% for the next one. The rating firms project that company’s revenue will grow 28.10% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is $411.25 million. Meanwhile, for the quarter ending Mar 2023, a total of 2 analyst(s) estimate revenue growth to $393.61 million.Earnings reports from the last fiscal year show that sales brought in $356.3 million and $331.7 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 15.40% before jumping 18.70% in the following quarter.
ALTG Dividends
Alta Equipment Group Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Alta Equipment Group Inc. has a forward dividend ratio of 0.23, with the share yield ticking at 1.51% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Alta Equipment Group Inc. (NYSE:ALTG)’s Major holders
Alta Equipment Group Inc. insiders hold 21.77% of total outstanding shares, with institutional holders owning 66.20% of the shares at 84.62% float percentage. In total, 66.20% institutions holds shares in the company, led by B. Riley Financial, Inc. As of Dec 30, 2022, the company held over 6.0 million shares (or 18.64% of shares), all amounting to roughly $79.15 million.
The next major institution holding the largest number of shares is B. Riley Securities, Inc. with 6.0 million shares, or about 18.64% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $79.15 million.
We also have Vanguard Total Stock Market Index Fund and 180 Degree Capital Corp as the top two Mutual Funds with the largest holdings of the Alta Equipment Group Inc. (ALTG) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 0.57 million shares. This is just over 1.77% of the total shares, with a market valuation of $6.26 million. Data from the same date shows that the other fund manager holds a little less at 0.49 million, or 1.53% of the shares, all valued at about 5.42 million.
