EquipmentShare.com (NASDAQ:EQPT) Sets New 1-Year Low – Time to Sell?

EquipmentShare.com Inc (NASDAQ:EQPT) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $15.71 and last traded at $15.7260, with a volume of 279150 shares. The stock had previously closed at $16.06.

Wall Street Analysts Forecast Growth

EQPT has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Citizens Jmp restated a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a research report on Monday, June 22nd. Truist Financial cut their target price on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company reduced their target price on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, BNP Paribas Exane started coverage on EquipmentShare.com in a report on Monday, June 29th. They set a “neutral” rating and a $22.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.33.

EquipmentShare.com Stock Performance

The stock has a market cap of $4.38 billion and a PE ratio of 133.38. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90. The firm’s 50-day moving average price is $20.34.

EquipmentShare.com (NASDAQ:EQPT) last released its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $989.00 million during the quarter. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. On average, equities analysts anticipate that EquipmentShare.com Inc will post 0.46 earnings per share for the current fiscal year.

EquipmentShare.com declared that its board has approved a stock repurchase program on Friday, July 10th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 12.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at EquipmentShare.com

In other EquipmentShare.com news, Director W Bryan Hill acquired 21,803 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the acquisition, the director owned 35,794 shares in the company, valued at $819,324.66. The trade was a 155.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jabbok Schlacks acquired 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at $1,056,000. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 81,803 shares of company stock worth $1,797,271. 32.81% of the stock is currently owned by insiders.

EquipmentShare.com Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.