Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment. 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 aerial work platforms, cranes, earthmoving equipment, and other material handling and construction equipment. It also offers repair and maintenance services for its equipment. In addition, the company designs and builds warehouses, as well as provides automated equipment installation and system integration solutions. It serves diversified manufacturing, food and beverage, wholesale/retail, construction, automotive, municipal/government, and medical sectors. Alta Equipment Group Inc. was founded in 1984 and is based in Livonia, Michigan.
IPO Year: 2019
Exchange: NYSE
Website: altaequipment.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | $20.00 | Outperform → Market Perform | Northland Capital |
| 9/23/2022 | $25.00 | Outperform | Northland Capital |
| 1/4/2022 | $21.00 → $22.00 | Buy | B. Riley Securities |
| 11/12/2021 | $19.00 → $21.00 | Buy | B. Riley Securities |
10-Q - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
10-Q - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
8-K - ALTA EQUIPMENT GROUP INC. (0001759824) (Filer)
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4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
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4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
4 - ALTA EQUIPMENT GROUP INC. (0001759824) (Issuer)
Third Quarter Financial Highlights: Total revenues decreased $17.4 million year over year to $448.8 millionConstruction Equipment and Material Handling revenues of $262.3 million and $168.9 million, respectivelyProduct support revenues increased 7.8% year over year with Parts sales increasing to $75.6 million and Service revenues increasing to $64.6 millionNew and used equipment sales decreased 13.3% year over year to $219.8 millionNet loss available to common stockholders of $(28.4) million Basic and diluted net loss per share of $(0.86)Adjusted basic and diluted net loss per share* of $(0.72)Adjusted EBITDA* of $43.2 millionThird quarter 2024 net loss was impacted by a $14.0 million d
LIVONIA, Mich., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the third quarter ended September 30, 2024, after the U.S. markets close on Tuesday, November 12, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that afternoon at 5:00 p.m. Eastern Time to discuss and answer questions about the Company's financial results. Prior to the conference call and webcast, Alta will issue a press release and supplemen
LIVONIA, Mich., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is November 29, 2024, to shareholders of record at the close of business on November 15, 2024. About Alta Equipment Group Inc.Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts a
LIVONIA, Mich., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is October 31, 2024, to shareholders of record at the close of business on October 15, 2024. A
LIVONIA, Mich., Sept. 04, 2024 (GLOBE NEWSWIRE) -- On September 1, 2024, the Board of Directors (the "Board") of Alta Equipment Group Inc. (the "Company") elected Colin Wilson to join the Board of the Company, effective immediately, filling a vacancy. Mr. Wilson was elected to the class of directors whose term expires at the Company's annual meeting of shareholders in 2026. Mr. Wilson, age 70, has over 40 years of experience in the materials handling industry. He began his career in 1970 with Coles Cranes in Sunderland, England, where he worked in production engineering, marketing, product management and overseas licensing. After time with a compressor company and a European lift truck
Second Quarter Financial Highlights: Total revenues increased $19.7 million year over year to $488.1 millionConstruction Equipment and Material Handling revenues of $294.9 million and $175.6 million, respectivelyProduct support revenues increased 10.1% year over year with Parts sales increasing to $78.0 million and Service revenues increasing to $66.2 millionNew and used equipment sales decreased 1.2% year over year to $251.5 millionNet loss available to common stockholders of $(12.6) million Basic and diluted net loss per share of $(0.38)Adjusted basic and diluted net income per share* of $0.01Adjusted EBITDA* of $50.3 million LIVONIA, Mich., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Alta Equip
LIVONIA, Mich., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is August 30, 2024, to shareholders of record at the close of business on August 15, 2024. About Alta Equipment Group Inc.Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and s
LIVONIA, Mich., July 24, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the second quarter ended June 30, 2024, after the U.S. markets close on Wednesday, August 7, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that afternoon at 5:00 p.m. Eastern Time to discuss and answer questions about the Company's financial results. Prior to the conference call and webcast, Alta will issue a press release and supplementary
LIVONIA, Mich., July 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is July 31, 2024, to shareholders of record at the close of business on July 15, 2024. About A
LIVONIA, Mich., May 21, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or the "Company"), announced today that it has priced $500 million in aggregate principal amount of its 9.000% senior secured second lien notes due 2029 (the "notes") at an issue price of 97.094% of face amount in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The offering of the notes is expected to close on June 5, 2024, subject to customary closing conditions. The notes will be guaranteed by all of the Company's domestic subsidiaries and will be secured by a second lien on substantiall
Third Quarter Financial Highlights: Total revenues decreased $17.4 million year over year to $448.8 millionConstruction Equipment and Material Handling revenues of $262.3 million and $168.9 million, respectivelyProduct support revenues increased 7.8% year over year with Parts sales increasing to $75.6 million and Service revenues increasing to $64.6 millionNew and used equipment sales decreased 13.3% year over year to $219.8 millionNet loss available to common stockholders of $(28.4) million Basic and diluted net loss per share of $(0.86)Adjusted basic and diluted net loss per share* of $(0.72)Adjusted EBITDA* of $43.2 millionThird quarter 2024 net loss was impacted by a $14.0 million d
LIVONIA, Mich., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the third quarter ended September 30, 2024, after the U.S. markets close on Tuesday, November 12, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that afternoon at 5:00 p.m. Eastern Time to discuss and answer questions about the Company's financial results. Prior to the conference call and webcast, Alta will issue a press release and supplemen
LIVONIA, Mich., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is November 29, 2024, to shareholders of record at the close of business on November 15, 2024. About Alta Equipment Group Inc.Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts a
LIVONIA, Mich., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is October 31, 2024, to shareholders of record at the close of business on October 15, 2024. A
Second Quarter Financial Highlights: Total revenues increased $19.7 million year over year to $488.1 millionConstruction Equipment and Material Handling revenues of $294.9 million and $175.6 million, respectivelyProduct support revenues increased 10.1% year over year with Parts sales increasing to $78.0 million and Service revenues increasing to $66.2 millionNew and used equipment sales decreased 1.2% year over year to $251.5 millionNet loss available to common stockholders of $(12.6) million Basic and diluted net loss per share of $(0.38)Adjusted basic and diluted net income per share* of $0.01Adjusted EBITDA* of $50.3 million LIVONIA, Mich., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Alta Equip
LIVONIA, Mich., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is August 30, 2024, to shareholders of record at the close of business on August 15, 2024. About Alta Equipment Group Inc.Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and s
LIVONIA, Mich., July 24, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the second quarter ended June 30, 2024, after the U.S. markets close on Wednesday, August 7, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that afternoon at 5:00 p.m. Eastern Time to discuss and answer questions about the Company's financial results. Prior to the conference call and webcast, Alta will issue a press release and supplementary
LIVONIA, Mich., July 03, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is July 31, 2024, to shareholders of record at the close of business on July 15, 2024. About A
First Quarter Financial Highlights: Total revenues increased $20.9 million year over year to $441.6 millionConstruction and Material Handling revenues of $255.6 million and $174.3 million, respectivelyProduct support revenues increased 6.5% year over year with Parts sales increasing to $72.9 million and Service revenues increasing to $64.0 millionNew and used equipment sales grew 4.1% year over year to $228.6 millionNet loss available to common stockholders of $(12.7) million Basic and diluted net loss per share of $(0.38)Adjusted basic and diluted net loss per share* of $(0.22) Adjusted EBITDA* of $34.1 million LIVONIA, Mich., May 08, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group In
LIVONIA, Mich., May 02, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is May 31, 2024, to shareholders of record at the close of business on May 15, 2024. About Alta Equipment Group Inc.Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and servic
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LIVONIA, Mich., Sept. 04, 2024 (GLOBE NEWSWIRE) -- On September 1, 2024, the Board of Directors (the "Board") of Alta Equipment Group Inc. (the "Company") elected Colin Wilson to join the Board of the Company, effective immediately, filling a vacancy. Mr. Wilson was elected to the class of directors whose term expires at the Company's annual meeting of shareholders in 2026. Mr. Wilson, age 70, has over 40 years of experience in the materials handling industry. He began his career in 1970 with Coles Cranes in Sunderland, England, where he worked in production engineering, marketing, product management and overseas licensing. After time with a compressor company and a European lift truck
LIVONIA, Mich., April 12, 2024 (GLOBE NEWSWIRE) -- On April 8, 2024, the Board of Directors (the "Board") of Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, approved the appointment of Katherine White as the Chair of the Nominating and Governance Committee and Sidhartha Nair, who recently joined the Board effective February 22, 2024, as the Chair of the Compensation Committee, effective immediately. On April 8, 2024, Zachary Savas informed the Board of his resignation, effective immediately, and wished the Company well in the future. The Company and t
LIVONIA, Mich., Feb. 26, 2024 (GLOBE NEWSWIRE) -- On February 22, 2024, Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, increased the size of the Board of Directors (the "Board") from five to six directors and subsequently appointed Sidhartha Nair to the Board, effective immediately. Mr. Nair, age 52, is the Head of Strategy, Americas Region, for Mercedes-Benz Mobility and leads Strategic and Transformation activities in the U.S., Canada and Mexico since December 2021. Mr. Nair first joined Daimler Financial Services in 2003 and has held roles of in
LIVONIA, Mich., Jan. 22, 2024 (GLOBE NEWSWIRE) -- On January 18, 2024, Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, appointed Jeff Hoover as Chief Legal Officer and General Counsel effective immediately. Mr. Hoover comes to Alta via Dinsmore & Shohl LLP, a national law firm, and prior to that Howard & Howard Attorneys, PLLC where he was a Partner at both firms and specialized in mergers and acquisitions, corporate finance, commercial lending, and real estate transactions. Mr. Hoover holds a Master's of Business Administration in Finance from Easter
On April 12, 2022, Alta Equipment Group Inc. (NYSE:ALTG) ("Alta"), a leading provider of premium material handling and construction equipment and related services, announced the appointment of Craig Brubaker as Chief Operating Officer, a new position at the company, effective immediately. Since 2006, Mr. Brubaker has served as Vice President, Operations at Alta. Craig joined Alta in 1995 after completing his BS in Mechanical Engineering from the University of Toledo. Mr. Brubaker has held several operations positions of increased responsibilities before being promoted to VP of Operations. Previously, Craig held positions as Systems Manager, Rental Manager, General Service Manager and Regio
Northland Capital downgraded Alta Equipment Group from Outperform to Market Perform and set a new price target of $20.00
Northland Capital initiated coverage of Alta Equipment Group with a rating of Outperform and set a new price target of $25.00
B. Riley Securities reiterated coverage of Alta Equipment Group with a rating of Buy and set a new price target of $22.00 from $21.00 previously
B. Riley Securities reiterated coverage of Alta Equipment Group with a rating of Buy and set a new price target of $21.00 from $19.00 previously
Raymond James upgraded Alta Equipment Group from Mkt Perform to Outperform and set a new price target of $16.00 from $12.50 previously
DA Davidson initiated coverage of Alta Equipment Group with a rating of Buy and set a new price target of $14.00
Although U.S. stocks closed higher on Friday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Appian The Trade: Appian Corporation (NASDAQ:APPN) 10% owner Colin T. Moran acquired a total of 545,121 shares at an average
Concurrent with the closing of the offering, the Company expects to amend and extend its existing $485 million senior secured asset-based revolving credit facility due 2026 (the "Existing ABL Facility") and $70 million floor plan facility due 2026 (the "Existing Floor Plan Facility") with a $520 million senior secured asset-based revolving credit facility due 2029 (the "New ABL Facility") and a $90 million floor plan facility due 2029 (together with the New ABL Facility, the "First Lien Facilities").
DA Davidson analyst Matt Summerville maintains Alta Equipment Group (NYSE:ALTG) with a Buy and lowers the price target from $22 to $20.
Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or the "Company"), today announced that it intends to offer, subject to market and other conditions, $500 million in aggregate principal amount of its senior secured second lien notes due 2029 in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be guaranteed by all of the Company's domestic subsidiaries and will be secured by a second lien on substantially all of the assets of the Company and its domestic subsidiaries. Concurrent with the closing of the offering, the Company expects to amend and extend its existing $485 million se
Shares of Duolingo, Inc. (NASDAQ:DUOL) fell sharply during Thursday's session after the company reported first quarter financial results. Duolingo reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 27 cents by 111.11%. Quarterly sales came in at $167.6 million which beat the analyst consensus estimate of $165.677 million and is a 44.91% increase from the same period last year, according to data from Benzinga Pro. Duolingo sees second-quarter revenues of between $175 million and $177.5 million, versus the $176.9 million estimate and full-year 2024 revenues of between $726.5 million and $735.5 million, versus the $728.23 million estimate. Du
Gainers Blue Bird (NASDAQ:BLBD) stock rose 26.4% to $47.44 during Thursday's regular session. The market value of their outstanding shares is at $1.5 billion. As per the press release, Q2 earnings came out yesterday. Greenwave Tech Solns (NASDAQ:GWAV) stock increased by 21.34% to $0.07. The market value of their outstanding shares is at $10.6 million. Ryde Group (AMEX:RYDE) shares rose 14.24% to $8.5. The market value of their outstanding shares is at $162.4 million. Falcons Beyond Global (NASDAQ:FBYD) stock moved upwards by 13.37% to $9.75. The company's market cap stands at $115.2 million. Lichen China (NASDAQ:LICN) stock increased by 12.22% to $1.01. The company's market cap stands a
Full Year 2024 Financial Guidance and Other Financial Notes:The Company adjusted the top end of our 2024 guidance range and now expects to report Adjusted EBITDA between $207.5 million and $212.5 million for the 2024 fiscal year.
Alta Equipment Group (NYSE:ALTG) reported quarterly losses of $(0.22) per share which missed the analyst consensus estimate of $(0.20) by 10 percent. This is a 650 percent decrease over earnings of $0.04 per share from the same period last year. The company reported quarterly sales of $441.60 million which beat the analyst consensus estimate of $420.40 million by 5.04 percent. This is a 4.97 percent increase over sales of $420.70 million the same period last year.
- On April 8, 2024, the Board of Directors (the "Board") of Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, approved the appointment of Katherine White as the Chair of the Nominating and Governance Committee and Sidhartha Nair, who recently joined the Board effective February 22, 2024, as the Chair of the Compensation Committee, effective immediately. On April 8, 2024, Zachary Savas informed the Board of his resignation, effective immediately, and wished the Company well in the future. The Company and the Board are grateful to Mr. Savas for his years of