Alta Equipment Group Inc. (ALTG) To Go Ex-Dividend on February 14th

Alta Equipment Group Inc. (NYSE:ALTG) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Shareholders of record on Saturday, February 15th will be given a dividend of 0.057 per share on Friday, February 28th. This represents a $0.23 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, February 14th.

Alta Equipment Group has a dividend payout ratio of 209.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alta Equipment Group to earn ($1.25) per share next year, which means the company may not be able to cover its $0.23 annual dividend with an expected future payout ratio of -18.4%.

Alta Equipment Group Stock Up 0.4 %

Shares of Alta Equipment Group stock opened at $7.39 on Wednesday. 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 $245.79 million, a P/E ratio of -4.35 and a beta of 1.76. The firm’s 50 day moving average price is $7.10 and its 200-day moving average price is $6.98. Alta Equipment Group has a 52-week low of $5.40 and a 52-week high of $13.67.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Northland Capmk downgraded shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Raymond James cut their price target on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. Finally, Northland Securities reiterated a “market perform” rating and set a $20.00 price objective (down from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alta Equipment Group presently has a consensus rating of “Hold” and a consensus price target of $15.75.

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.