B. Riley Upgrades Alta Equipment Group to 'Strong-Buy'

Alta Equipment Group (NYSE:ALTG) received a significant upgrade from research analysts at B. Riley, who assigned the company a "strong-buy" rating in a report released on Wednesday, according to Zacks.com. The analysts also provided estimates for the company's upcoming quarterly earnings, predicting a loss of ($0.30) per share for Q2 2025 and the same for Q3 2025.

Alta Equipment Group alerts:

• Massive Upside Forecasted In Alta Equipment Group

In a separate development, shares of Alta Equipment Group experienced some downward adjustment from another financial firm. Raymond James lowered its price target for the shares from $9.00 to $8.50, while maintaining a "market perform" rating on the stock as reported on March 10th. Currently, three equities research analysts rate the stock as a hold, while one has a buy rating and one analyst has rated it as a strong buy. Data from MarketBeat shows that the stock has an average rating of "Moderate Buy," with a consensus target price set at $12.63.

Performance of Alta Equipment Group Stock

On Wednesday, shares of NYSE:ALTG opened at $4.94. The company maintains a current ratio of 1.35, a quick ratio of 0.43, and a notably high debt-to-equity ratio of 7.45. The market capitalization of the stock stands at $162.33 million, and it has an unsatisfactory PE ratio of -2.91 along with a beta of 1.81. The fifty-day moving average for the stock is $6.26, while the two-hundred day average is $6.64. Over the last year, Alta Equipment Group's stock has hit a low of $4.45 and a high of $13.67.

Insider Activity

Recent insider trading activity revealed that COO Craig Brubaker sold 5,294 shares on March 5th at an average price of $5.00, resulting in a total transaction of $26,470. As a result of this sale, Brubaker's stake in the company has decreased by 5.09%, leaving him with 98,640 shares valued at approximately $493,200. This transaction was reported in a legal filing with the SEC, accessible through the proper channels. Notably, company insiders currently hold 19.90% of Alta Equipment Group's stock.

Institutional Investor Movements

A variety of institutional investors have modified their holdings in Alta Equipment Group recently. Millennium Management LLC made a notable new investment in the fourth quarter, purchasing shares worth $937,000. Additionally, Janus Henderson Group PLC increased its ownership in the company by 12.8%, acquiring 5,828 shares and totaling 51,469 shares worth $337,000. CastleKnight Management LP also significantly increased its position by 70.2%, bringing its total to 540,986 shares valued at $3,538,000 after acquiring an additional 223,072 shares during the quarter. Furthermore, Bridgeway Capital Management LLC raised its stake by 26.0%, totaling 81,900 shares worth $536,000 after an additional purchase of 16,900 shares. Bank of America Corp DE expanded its position by 148.0% during the fourth quarter, now owning 187,813 shares valued at $1,228,000 after acquiring 112,092 additional shares. Institutional investors now collectively hold 73.58% of Alta Equipment Group's stock.

About Alta Equipment Group

Alta Equipment Group Inc. operates as an integrated equipment dealership platform across the United States, functioning through three primary segments: Material Handling, Construction Equipment, and Master Distribution. The company runs a branch network dedicated to selling, renting, and providing parts and services for various specialized equipment types. This includes lift trucks, earthmoving equipment, environmental processing machinery, cranes, and construction-related products.

Conclusion

This upgrade from B. Riley may suggest optimism surrounding Alta Equipment Group and its potential for growth, especially as it navigates the challenges and dynamics of the equipment industry.

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