Professional
Added to YB: 2024-05-27
Pitch date: 2024-05-24
ALTG [bullish]
Alta Equipment Group Inc.
-19.12%
current return
Author Info
Voss Capital is a hedge fund looking for value-oriented special situations. Sign up for the newsletter.
Company Info
Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States and Canada.
Market Cap
$214.0M
Pitch Price
$8.56
Price Target
17.12 (+147%)
Dividend
N/A
EV/EBITDA
15.24
P/E
-2.66
EV/Sales
0.78
Sector
Trading Companies and Distributors
Category
turnaround
Voss Capital Value Fund Portfolio Holding: Alta Equipment Group Inc.
ALTG: Q1 missed, lowers 2023 EBITDA guide top-end <2%. Stock -30% to 4x EBITDA on weak distribution segment & new equip margins, but 43% CAGR in parts & service since 2019 should provide ballast. 30%+ levered FCF yield on 2025 consensus to de-lever. >100% upside to 6x EBITDA base case.
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