The 36-month beta value for ALTG is at 1.70. 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 20.26M, and currently, shorts hold a 10.19% of that float. The average trading volume for ALTG on August 23, 2024 was 453.51K shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
ALTG) stock’s latest price update
Alta Equipment Group Inc (NYSE: ALTG) has seen a rise in its stock price by 9.39 in relation to its previous close of 6.18. However, the company has experienced a 12.29% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-08 that Alta Equipment Group Inc. (NYSE:ALTG ) Q2 2024 Earnings Call Transcript August 7, 2024 5:00 PM ET Company Participants Jason Dammeyer – Investor Relations Ryan Greenawalt – Chairman & Chief Executive Officer Tony Colucci – Chief Financial Officer Conference Call Participants Canyon Hayes – D.A. Davidson Steve Hansen – Raymond James Steven Ramsey – Thompson Research Group Alex Rygiel – B.
ALTG’s Market Performance
Alta Equipment Group Inc (ALTG) has experienced a 12.29% rise in stock performance for the past week, with a -38.93% drop in the past month, and a -21.03% drop in the past quarter. The volatility ratio for the week is 5.25%, and the volatility levels for the past 30 days are at 7.87% for ALTG. The simple moving average for the past 20 days is -12.25% for ALTG’s stock, with a -34.90% simple moving average for the past 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.
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 -20.50% 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 -54.11% of loss for the given period.
Volatility was left at 7.87%, however, over the last 30 days, the volatility rate increased by 5.25%, as shares sank -39.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.79% lower at present.
During the last 5 trading sessions, ALTG rose by +8.97%, which changed the moving average for the period of 200-days by -32.44% in comparison to the 20-day moving average, which settled at $7.49. In addition, Alta Equipment Group Inc saw -45.35% 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 STUDDERT ANDREW P, who purchase 10,000 shares at the price of $5.65 back on Aug 12 ’24. After this action, STUDDERT ANDREW P now owns 86,591 shares of Alta Equipment Group Inc, valued at $56,478 using the latest closing price.
Mill Road Capital III, L.P., the 10% Owner of Alta Equipment Group Inc, purchase 54,200 shares at $9.14 during a trade that took place back on Aug 02 ’24, which means that Mill Road Capital III, L.P. is holding 4,063,708 shares at $495,431 based on the most recent closing price.
Stock Fundamentals for ALTG
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.26 for the gross margin
The net margin for Alta Equipment Group Inc stands at -0.01. The total capital return value is set at 0.04. Equity return is now at value -13.73, with -1.21 for asset returns.
Based on Alta Equipment Group Inc (ALTG), the company’s capital structure generated 0.9 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 8.9. The interest coverage ratio of the stock is 0.79.
Currently, EBITDA for the company is 187.0 million with net debt to EBITDA at 6.91. When we switch over and look at the enterprise to sales, we see a ratio of 0.77. The receivables turnover for the company is 7.61for trailing twelve months and the total asset turnover is 1.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.37.
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.
