Alta Equipment Group: Hold Rating Amid Competitive Pressures and Revised Guidance

Raymond James analyst Steve Hansen reiterated a Hold rating on Alta Equipment Group today and set a price target of $6.75.

Steve Hansen’s rating is based on several factors impacting Alta Equipment Group’s performance. The company has been facing ongoing competitive pressures in the heavy equipment sector, which have affected its financial results. Additionally, Alta’s guidance for fiscal year 2025 has been revised downward, reflecting challenges in their business environment.
Alta’s leverage remains high, with a slight increase in the leverage ratio, which is expected to stay elevated in the near term. Despite these challenges, there are some positive signs, such as stability in infrastructure end-markets and improvements in cost-saving initiatives. However, given the current uncertainties and pressures, Hansen has maintained a Hold rating on the stock.

Hansen covers the Industrials sector, focusing on stocks such as RB Global, Exchange Income, and Cargojet. According to TipRanks, Hansen has an average return of 2.1% and a 50.31% success rate on recommended stocks.

In another report released on November 15, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.50 price target.