In the past week, ALTG stock has gone down by -17.92%, with a monthly decline of -26.23% and a quarterly plunge of -19.25%. The volatility ratio for the week is 2.65%, and the volatility levels for the last 30 days are 3.19% for Alta Equipment Group Inc The simple moving average for the past 20 days is -19.01% for ALTG’s stock, with a -21.24% simple moving average for the past 200 days.
Is It Worth Investing in Alta Equipment Group Inc (NYSE: ALTG) Right Now?
Alta Equipment Group Inc (NYSE: ALTG) has a higher price-to-earnings ratio of 52.75x compared to its average ratio, The 36-month beta value for ALTG is at 1.73. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ALTG is 22.90M, and currently, shorts hold a 7.30% of that float. The average trading volume for ALTG on May 09, 2024 was 264.79K shares.
ALTG) stock’s latest price update
The stock price of Alta Equipment Group Inc (NYSE: ALTG) has plunged by -18.21 when compared to previous closing price of 11.59, but the company has seen a -17.92% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-08 that Alta Equipment (ALTG) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to earnings of $0.01 per share a year ago.
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.
B. Riley Securities, on the other hand, stated in their research note that they expect to see ALTG reach a price target of $22, previously predicting the price at $21. The rating they have provided for ALTG stocks is “Buy” according to the report published on January 04th, 2022.
Raymond James gave a rating of “Outperform” to ALTG, setting the target price at $16 in the report published on May 14th of the previous year.
ALTG Trading at -20.17% 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 -47.27% of loss for the given period.
Volatility was left at 3.19%, however, over the last 30 days, the volatility rate increased by 2.65%, as shares sank -26.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.30% lower at present.
During the last 5 trading sessions, ALTG fell by -18.18%, which changed the moving average for the period of 200-days by -41.56% in comparison to the 20-day moving average, which settled at $11.54. In addition, Alta Equipment Group Inc saw -23.36% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ALTG starting from Greenawalt Ryan, who sale 34,951 shares at the price of $11.36 back on Feb 29 ’24. After this action, Greenawalt Ryan now owns 5,842,625 shares of Alta Equipment Group Inc, valued at $397,008 using the latest closing price.
Colucci Anthony, the Chief Financial Officer of Alta Equipment Group Inc, sale 17,222 shares at $11.45 during a trade that took place back on Feb 29 ’24, which means that Colucci Anthony is holding 156,609 shares at $197,168 based on the most recent closing price.
Stock Fundamentals for ALTG
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.27 for the gross margin
The net margin for Alta Equipment Group Inc stands at 0.0. The total capital return value is set at 0.06. Equity return is now at value 6.15, with 0.61 for asset returns.
Based on Alta Equipment Group Inc (ALTG), the company’s capital structure generated 0.88 points at debt to capital in total, while cash flow to debt ratio is standing at 0.04. The debt to equity ratio resting at 7.02. The interest coverage ratio of the stock is 0.95.
Currently, EBITDA for the company is 187.0 million with net debt to EBITDA at 6.07. When we switch over and look at the enterprise to sales, we see a ratio of 0.78. The receivables turnover for the company is 7.53for trailing twelve months and the total asset turnover is 1.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.32.
Conclusion
In conclusion, Alta Equipment Group Inc (ALTG) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. 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.
