Alta Equipment Group (NYSE:ALTG) Price Target Lowered to $8.50 at Raymond James

Alta Equipment Group (NYSE:ALTG) had its price target reduced by Raymond James from $9.00 to $8.50 in a research report report published on Monday,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts also recently issued reports about the company. Northland Securities reaffirmed a “market perform” rating and set a $20.00 price target (down from $30.00) on shares of Alta Equipment Group in a research report on Wednesday, November 13th. Northland Capmk lowered Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Alta Equipment Group currently has a consensus rating of “Hold” and a consensus price target of $15.63.

Alta Equipment Group Trading Up 0.5 %

NYSE ALTG opened at $4.94 on Monday. Alta Equipment Group has a 52 week low of $4.45 and a 52 week high of $13.67. The company has a 50 day moving average price of $6.60 and a 200 day moving average price of $6.76. 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 firm has a market cap of $164.12 million, a PE ratio of -2.90 and a beta of 1.81.

Alta Equipment Group Dividend Announcement

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

Insider Transactions at Alta Equipment Group

In other Alta Equipment Group news, COO Craig Brubaker sold 5,294 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the sale, the chief operating officer now directly owns 98,640 shares of the company’s stock, valued at approximately $493,200. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On Alta Equipment Group

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new stake in Alta Equipment Group during the fourth quarter valued at $69,000. Intech Investment Management LLC purchased a new stake in shares of Alta Equipment Group during the 4th quarter worth about $79,000. Wells Fargo & Company MN grew its position in shares of Alta Equipment Group by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,533 shares of the company’s stock valued at $82,000 after acquiring an additional 4,272 shares during the period. SG Americas Securities LLC increased its stake in shares of Alta Equipment Group by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 13,784 shares of the company’s stock valued at $90,000 after purchasing an additional 2,375 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Alta Equipment Group by 49.4% in the 4th quarter. MetLife Investment Management LLC now owns 20,313 shares of the company’s stock worth $133,000 after purchasing an additional 6,716 shares during the period. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Company Profile

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.