In a report released today, Michael Shlisky from Colliers Securities maintained a Buy rating on Alta Equipment Group (ALTG – Research Report), with a price target of $16.00. The company’s shares closed last Thursday at $12.90, close to its 52-week high of $14.64.
According to TipRanks.com, Shlisky is a 4-star analyst with an average return of 20.0% and a 48.3% success rate. Shlisky covers the Industrial Goods sector, focusing on stocks such as Commercial Vehicle Group, Manitex International, and Columbus Mckinnon.
Currently, the analyst consensus on Alta Equipment Group is a Strong Buy with an average price target of $16.75, representing a 30.2% upside. In a report released today, Raymond James also upgraded the stock to Buy with a $16.00 price target.
Based on Alta Equipment Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $280 million and GAAP net loss of $3.2 million. In comparison, last year the company had a GAAP net loss of $1.04 million.
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Alta Equipment Group, Inc. owns and operates integrated equipment dealership platforms. It sells, rents, and provides parts and service support for several categories of equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment through its branch network. The company was founded in 1984 and is headquartered Livonia, MI.