Zacks: Alta Equipment Group (NASDAQ:ALTG) Given $10.50 Consensus Target Price by Brokerages
Shares of Alta Equipment Group (NASDAQ:ALTG) have been given a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and one has given a strong buy rating to the company. Alta Equipment Group’s rating score has declined by 50% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus target price of $10.50 for the company and are forecasting that the company will post ($0.13) EPS for the current quarter, according to Zacks. Zacks has also assigned Alta Equipment Group an industry rank of 147 out of 254 based on the ratings given to its competitors.
A number of analysts recently issued reports on ALTG shares. B. Riley reissued a “buy” rating and set a $11.00 target price on shares of Alta Equipment Group in a research note on Friday, June 19th. Zacks Investment Research cut Alta Equipment Group from a “buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Dougherty & Co started coverage on Alta Equipment Group in a research note on Tuesday, April 7th. They set a “buy” rating and a $8.50 target price for the company.
Alta Equipment Group (NASDAQ:ALTG) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.10). The firm had revenue of $180.50 million during the quarter.
A number of large investors have recently added to or reduced their stakes in the business. Granahan Investment Management Inc. MA bought a new position in Alta Equipment Group during the 1st quarter worth $4,341,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Alta Equipment Group during the first quarter valued at $3,886,000. Foundry Partners LLC purchased a new position in Alta Equipment Group in the first quarter worth about $1,435,000. Portolan Capital Management LLC purchased a new position in Alta Equipment Group in the first quarter worth about $1,336,000. Finally, Cruiser Capital Advisors LLC purchased a new position in Alta Equipment Group in the first quarter worth about $654,000.
About Alta Equipment Group
B. Riley Principal Merger Corp. is a blank check company, which engages purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses. The company was founded on October 30, 2018 and is headquartered in New York, NY.
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