B. Riley Initiates Coverage on Alta Equipment Group (NYSE:ALTG)

Equities researchers at B. Riley initiated coverage on shares of Alta Equipment Group (NYSE:ALTG) in a note issued to investors on Thursday. The brokerage set a “buy” rating and a $10.00 price target on the stock. B. Riley’s target price points to a potential upside of 117.63% from the company’s previous close. B. Riley also issued estimates for Alta Equipment Group’s Q2 2025 earnings at ($0.30) EPS and Q3 2025 earnings at ($0.30) EPS.

Separately, Raymond James cut their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Alta Equipment Group Trading Down 7.0 %

ALTG stock opened at $4.60 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The company has a market cap of $150.99 million, a price-to-earnings ratio of -2.70 and a beta of 1.81. The business has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $6.63. Alta Equipment Group has a 52 week low of $4.45 and a 52 week high of $13.67.

Insider Buying and Selling at Alta Equipment Group

In other news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total transaction of $26,470.00. Following the sale, the chief operating officer now owns 98,640 shares in the company, valued at $493,200. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALTG. Portolan Capital Management LLC acquired a new position in Alta Equipment Group in the 4th quarter worth $5,561,000. Mill Road Capital Management LLC increased its position in shares of Alta Equipment Group by 18.2% during the third quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock worth $28,397,000 after acquiring an additional 650,214 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Alta Equipment Group in the fourth quarter worth about $2,589,000. Paloma Partners Management Co purchased a new position in Alta Equipment Group in the third quarter valued at about $2,646,000. Finally, CastleKnight Management LP grew its stake in Alta Equipment Group by 70.2% during the 4th quarter. CastleKnight Management LP now owns 540,986 shares of the company’s stock valued at $3,538,000 after purchasing an additional 223,072 shares in the last quarter. 73.58% of the stock is currently owned by hedge funds and other institutional investors.

Alta Equipment Group Company Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.