BidaskClub Upgrades Alta Equipment Group (NASDAQ:ALTG) to Buy

Alta Equipment Group (NASDAQ:ALTG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday, BidAskClub reports.

Several other equities analysts also recently commented on the company. Zacks Investment Research upgraded Alta Equipment Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 9th. Raymond James set a $9.00 target price on Alta Equipment Group and gave the company a “market perform” rating in a research report on Monday, December 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $10.13.

Shares of ALTG stock opened at $9.88 on Thursday. Alta Equipment Group has a twelve month low of $3.59 and a twelve month high of $10.80. The business has a fifty day simple moving average of $9.08 and a 200 day simple moving average of $8.31.

Alta Equipment Group (NASDAQ:ALTG) last announced its quarterly earnings data on Tuesday, November 17th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $220.60 million for the quarter, compared to the consensus estimate of $203.80 million.

In related news, Director Daniel Shribman acquired 12,000 shares of the stock in a transaction dated Tuesday, November 17th. The stock was bought at an average cost of $8.75 per share, for a total transaction of $105,000.00. Following the completion of the transaction, the director now directly owns 338,985 shares of the company’s stock, valued at $2,966,118.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Several large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new position in shares of Alta Equipment Group during the 2nd quarter valued at $77,000. American International Group Inc. bought a new position in Alta Equipment Group during the second quarter worth $81,000. B. Riley Wealth Management Inc. bought a new position in Alta Equipment Group during the second quarter worth $113,000. Jane Street Group LLC boosted its stake in Alta Equipment Group by 24.0% during the second quarter. Jane Street Group LLC now owns 23,422 shares of the company’s stock worth $182,000 after acquiring an additional 4,529 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in Alta Equipment Group during the third quarter worth $252,000.

Alta Equipment Group Company Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. The company operates through two segments, Industrial Equipment and Construction Equipment. It operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment, and other industrial and construction equipment.

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