Alta Equipment Group Receives Upgrade from Northland Capital Markets with New Price Target of $20.00

Alta Equipment Group (ALTG) received an analyst rating upgrade by Northland Capital Markets to 'Outperform' from 'Market Perform' with a new price target of $20.00. This upgrade reflects Northland's positive outlook on the company's future performance. The average one-year price target for ALTG is $10.46, with an upside of 23.83% from the current price of $8.45. The estimated GF Value for ALTG in one year is $12.66, suggesting a potential upside of 49.82%.

Alta Equipment Group (NYSE:ALTG) has received a significant upgrade from Northland Capital Markets, moving from 'Market Perform' to 'Outperform' with a new price target of $20.00. This positive outlook reflects Northland's optimism about the company's future financial performance.

The upgrade comes on the heels of Alta Equipment Group's recent publication of pro forma free cash flow metrics, which align with the company's financial performance. According to Investing.com [1], Northland's analysis suggests that ALTG's shares are "meaningfully undervalued" at current levels, providing significant potential upside for investors.

Northland's price target of $20.00 represents a substantial increase from the current trading price of $8.01. This upgrade suggests that investors could see a 132.56% return on their investment, given the current price and the new target [3].

The upgrade is also supported by recent financial results, which showed mixed but improving performance. For the first quarter of 2025, Alta Equipment Group reported a decrease in revenue and adjusted EBITDA, but also saw improvements in gross margins and operational efficiency. The company has suspended its quarterly dividend and expanded its share repurchase program, signaling a shift in capital allocation strategy [1].

Several other analysts have also weighed in on Alta Equipment Group's stock. DA Davidson, for example, lowered its price target from $9.00 to $8.00 but maintained a 'Buy' rating. Stifel analysts noted stable demand in the Construction Equipment sector and promising bookings in the Material Handling division [1].

The consensus rating for Alta Equipment Group is currently 'Moderate Buy' with a consensus price target of $11.25, as per data from MarketBeat.com [3]. This suggests that the majority of analysts are cautiously optimistic about the company's prospects.

Institutional investors and hedge funds have also shown interest in Alta Equipment Group, with several large investors increasing their stakes in the company in recent quarters [3].

Alta Equipment Group operates in the integrated equipment dealership platforms sector, with a focus on Material Handling, Construction Equipment, and Master Distribution. The company's branch network sells, rents, and provides parts and service support for various categories of specialized equipment.

References:
[1] https://www.investing.com/news/analyst-ratings/alta-equipment-group-stock-rating-upgraded-by-northland-on-cash-flow-outlook-93CH-4126736
[2] https://uk.investing.com/news/analyst-ratings/alta-equipment-group-stock-rating-upgraded-by-northland-on-cash-flow-outlook-93CH-4161080
[3] https://www.marketbeat.com/instant-alerts/alta-equipment-group-nysealtg-stock-rating-upgraded-by-northland-securities-2025-07-08/