Company’s 36-month beta value is 1.71.Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for ALTG is 20.10M, and currently, short sellers hold a 13.83% ratio of that floaft. The average trading volume of ALTG on November 15, 2024 was 320.99K shares.
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ALTG) stock’s latest price update
Alta Equipment Group Inc (NYSE: ALTG) has experienced a decline in its stock price by -9.66 compared to its previous closing price of 7.97. However, the company has seen a fall of -10.00% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-13 that Alta Equipment Group Inc. (NYSE:ALTG ) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Jason Dammeyer – Director of SEC Reporting & Technical Accounting Ryan Greenawalt – Chairman & CEO Tony Colucci – Chief Financial Officer Conference Call Participants Canyon Hayes – D.A. Davidson Steven Ramsey – Thompson Research Group Ted Jackson – Northland Securities Min Cho – B.
ALTG’s Market Performance
Alta Equipment Group Inc (ALTG) has seen a -10.00% fall in stock performance for the week, with a 16.50% gain in the past month and a 19.60% surge in the past quarter. The volatility ratio for the week is 12.12%, and the volatility levels for the past 30 days are at 7.17% for ALTG. The simple moving average for the past 20 days is 4.54% for ALTG’s stock, with a -20.50% 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 “Market Perform.” The predicted price for ALTG in the upcoming period, according to Northland Capital is $20 based on the research report published on November 13, 2024 of the current year 2024.
Northland Capital, on the other hand, stated in their research note that they expect to see ALTG reach a price target of $25. The rating they have provided for ALTG stocks is “Outperform” according to the report published on September 23rd, 2022.
B. Riley Securities gave a rating of “Buy” to ALTG, setting the target price at $22 in the report published on January 04th of the previous year.
ALTG Trading at 10.30% 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 -47.33% of loss for the given period.
Volatility was left at 7.17%, however, over the last 30 days, the volatility rate increased by 12.12%, as shares surge +17.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.43% upper at present.
During the last 5 trading sessions, ALTG fell by -10.00%, which changed the moving average for the period of 200-days by -32.71% in comparison to the 20-day moving average, which settled at $6.89. In addition, Alta Equipment Group Inc saw -41.79% 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 Voss Capital, LP, who sale 11,311 shares at the price of $6.31 back on Oct 02 ’24. After this action, Voss Capital, LP now owns 963,689 shares of Alta Equipment Group Inc, valued at $71,344 using the latest closing price.
STUDDERT ANDREW P, the Director of Alta Equipment Group Inc, purchase 10,000 shares at $5.65 during a trade that took place back on Aug 12 ’24, which means that STUDDERT ANDREW P is holding 86,591 shares at $56,478 based on the most recent closing price.
Stock Fundamentals for ALTG
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.26 for the gross margin
The net margin for Alta Equipment Group Inc stands at -0.03. The total capital return value is set at 0.03. Equity return is now at value -43.91, with -3.53 for asset returns.
Based on Alta Equipment Group Inc (ALTG), the company’s capital structure generated 0.89 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 8.48. The interest coverage ratio of the stock is 0.59.
Currently, EBITDA for the company is 187.0 million with net debt to EBITDA at 6.7. When we switch over and look at the enterprise to sales, we see a ratio of 0.54. The receivables turnover for the company is 8.74for trailing twelve months and the total asset turnover is 1.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.35.
Conclusion
In a nutshell, Alta Equipment Group Inc (ALTG) has experienced a mixed performance in recent times. The stock has received mixed “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.
