The price-to-earnings ratio for Alta Equipment Group Inc (NYSE: ALTG) is 46.16x, which is above its average ratio. Moreover, the 36-month beta value for ALTG is 1.68. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The average price recommended by analysts for Alta Equipment Group Inc (ALTG) is $22.23, which is $12.76 above the current market price. The public float for ALTG is 22.98M and currently, short sellers hold a 4.35% of that float. On November 17, 2023, ALTG’s average trading volume was 232.50K shares.
ALTG) stock’s latest price update
The stock of Alta Equipment Group Inc (NYSE: ALTG) has decreased by -9.28 when compared to last closing price of 10.99. Despite this, the company has experienced a -11.14% fall in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-11 that Alta Equipment Group Inc (NYSE:ALTG ) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Jason Dammeyer – Investor Relations Ryan Greenawalt – Chairman and Chief Executive Officer Tony Colucci – Chief Financial Officer Conference Call Participants Alex Rygiel – B. Riley Matt Summerville – D.A.
ALTG’s Market Performance
Alta Equipment Group Inc (ALTG) has experienced a -11.14% fall in stock performance for the past week, with a -10.90% drop in the past month, and a -29.19% drop in the past quarter. The volatility ratio for the week is 6.70%, and the volatility levels for the past 30 days are at 5.65% for ALTG. The simple moving average for the last 20 days is -1.50% for ALTG stock, with a simple moving average of -32.03% for the last 200 days.
Analysts’ Opinion of ALTG
Many brokerage firms have already submitted their reports for ALTG stocks, with Northland Capital repeating the rating for ALTG by listing it as a “Outperform.” The predicted price for ALTG in the upcoming period, according to Northland Capital is $25 based on the research report published on September 23, 2022 of the previous year 2022.
ALTG Trading at -12.42% from the 50-Day Moving Average
After a stumble in the market that brought ALTG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -51.60% of loss for the given period.
Volatility was left at 5.65%, however, over the last 30 days, the volatility rate increased by 6.70%, as shares sank -7.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.37% lower at present.
During the last 5 trading sessions, ALTG fell by -11.14%, which changed the moving average for the period of 200-days by -41.93% in comparison to the 20-day moving average, which settled at $10.08. In addition, Alta Equipment Group Inc saw -24.41% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at ALTG starting from STUDDERT ANDREW P, who purchase 5,000 shares at the price of $13.88 back on Aug 21. After this action, STUDDERT ANDREW P now owns 64,983 shares of Alta Equipment Group Inc, valued at $69,406 using the latest closing price.
Savas Zachary E., the Director of Alta Equipment Group Inc, purchase 5,000 shares at $14.18 during a trade that took place back on Aug 15, which means that Savas Zachary E. is holding 94,711 shares at $70,891 based on the most recent closing price.
Stock Fundamentals for ALTG
Current profitability levels for the company are sitting at:
- +2.60 for the present operating margin
- +25.65 for the gross margin
The net margin for Alta Equipment Group Inc stands at +0.59. The total capital return value is set at 4.33, while invested capital returns managed to touch 1.39. Equity return is now at value 7.01, with 0.77 for asset returns.
Based on Alta Equipment Group Inc (ALTG), the company’s capital structure generated 662.73 points at debt to equity in total, while total debt to capital is 86.89. Total debt to assets is 68.87, with long-term debt to equity ratio resting at 465.45. Finally, the long-term debt to capital ratio is 61.02.
When we switch over and look at the enterprise to sales, we see a ratio of 0.72, with the company’s debt to enterprise value settled at 0.69. The receivables turnover for the company is 7.57 and the total asset turnover is 1.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
To wrap up, the performance of Alta Equipment Group Inc (ALTG) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.