ALTG Stock Summary and Trading Ideas (Alta Equipment Group Class A | NYSE:ALTG)

Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling and Construction Equipment. The Material Handling segment is engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana, New York, Virginia, and throughout the New England states whereas, the Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Indiana, Illinois, Ohio, New York, Florida and throughout the New England States.

Alta Equipment Group Class A trades on the NYSE stock market under the symbol ALTG.

As of April 24, 2024, ALTG stock price declined to $11.73 with 131,363 million shares trading.

ALTG has a beta of 1.93, meaning it tends to be more sensitive to market movements. ALTG has a correlation of 0.27 to the broad based SPY ETF.

ALTG has a market cap of $384.81 million. This is considered a Small Cap stock.

Last quarter Alta Equipment Group Class A reported $522 million in Revenue and $.03 earnings per share. This beat revenue expectation by $38 million and exceeded earnings estimates by $.08.

In the last 3 years, ALTG stock traded as high as $20.60 and as low as $8.65.

The top ETF exchange traded funds that ALTG belongs to (by Net Assets): IFRA, VTI, IWM, VXF, IWO.

ALTG has underperformed the market in the last year with a price return of -10.1% while the SPY ETF gained +24.2%. However, in the short term, ALTG had mixed performance relative to the market. It has outperformed in the last 3 months, returning +7.3% vs +4.6% return in SPY. But in the last 2 weeks, ALTG shares have been beat by the market, returning -10.6% compared to an SPY return of -2.7%.

ALTG support price is $11.44 and resistance is $12.06 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALTG stock will trade within this expected range on the day.