EquipmentShare.com Inc (NASDAQ:EQPT – Get Free Report) shot up 8.6% during mid-day trading on Tuesday. The company traded as high as $15.12 and last traded at $15.1450. 1,354,561 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 2,496,150 shares. The stock had previously closed at $13.95.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on EQPT shares. Truist Financial cut their price objective on shares of EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a research report on Monday, June 22nd. Robert W. Baird lowered their price target on shares of EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday. Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, Citigroup cut their price target on shares of EquipmentShare.com from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EquipmentShare.com has a consensus rating of “Hold” and a consensus price target of $30.78.
Get Our Latest Stock Analysis on EquipmentShare.com
EquipmentShare.com Stock Performance
The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16. The stock has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $19.63. The stock has a market capitalization of $3.82 billion and a P/E ratio of 48.65.
EquipmentShare.com (NASDAQ:EQPT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. On average, equities analysts forecast that EquipmentShare.com Inc will post 0.45 EPS for the current fiscal year.
EquipmentShare.com declared that its Board of Directors has approved a share repurchase plan on Friday, July 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.4% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its stock is undervalued.
Insider Transactions at EquipmentShare.com
In other news, insider William Schlacks bought 4,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $19.56 per share, with a total value of $78,240.00. Following the acquisition, the insider owned 58,950 shares in the company, valued at $1,153,062. This trade represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Neil Chheda sold 1,285,402 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total transaction of $26,504,989.24. Following the completion of the sale, the insider owned 40,476,688 shares of the company’s stock, valued at $834,629,306.56. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 85,950 shares of company stock worth $1,537,422 and have sold 2,201,032 shares worth $45,393,501. 32.81% of the stock is owned by company insiders.
Institutional Trading of EquipmentShare.com
Several institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of EquipmentShare.com during the 3rd quarter worth approximately $157,000. BigSur Wealth Management LLC acquired a new position in shares of EquipmentShare.com during the 3rd quarter worth approximately $434,000. Engineers Gate Manager LP acquired a new position in shares of EquipmentShare.com during the 2nd quarter worth approximately $679,000. Arizona State Retirement System bought a new stake in EquipmentShare.com in the 2nd quarter valued at $205,000. Finally, Waverly Advisors LLC bought a new stake in EquipmentShare.com in the 2nd quarter valued at $2,387,000.
EquipmentShare.com Company Profile
EquipmentShare is a construction equipment rental and technology company that combines equipment, digital tools and services for contractors and other businesses. Its operations include the rental of construction equipment, equipment sales, maintenance and repair, transportation, and related support services.
The company’s technology platform, including its T3 telematics and fleet-management tools, is designed to help customers monitor equipment location, utilization, maintenance needs and operating conditions.
Read More
- Five stocks we like better than EquipmentShare.com
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
- IonQ’s Bold Expansion Could Leave Shareholders Paying the Price
- Powering Up: Applied Digital Execs Buy $6.7M in Stock
- Chip Stocks Are Sliding—Why Is Smart Money Buying?
Receive News & Ratings for EquipmentShare.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EquipmentShare.com and related companies with MarketBeat.com's FREE daily email newsletter.
