Alta Equipment (ALTG) Surges 6.7%: Is This an Indication of Further Gains?

Group 1 - Alta Equipment Group Inc. (ALTG) shares increased by 6.7% to $11.74, following a period of 7.6% loss over the past four weeks, indicating a significant recovery in stock performance [1] - The rally in Alta Equipment's stock is attributed to strong momentum in its construction and material handling businesses, along with solid orders and recent acquisitions of Burris Equipment and Ault Industries [1] - The company is projected to report a quarterly loss of $0.05 per share, unchanged from the previous year, with expected revenues of $478.68 million, reflecting an 11.7% increase year-over-year [1] Group 2 - The consensus EPS estimate for Alta Equipment has remained stable over the last 30 days, suggesting that the stock's price movement may not sustain without changes in earnings estimate revisions [2] - Alta Equipment holds a Zacks Rank of 3 (Hold), indicating a neutral outlook in the market [2] - The company operates within the Zacks Manufacturing - General Industrial industry, which includes other stocks like Xometry (XMTR), which also experienced a 4.3% increase in its stock price [2]