EquipmentShare.com Inc (NASDAQ:EQPT) Stock Rated “Hold” by Wall Street Analysts

EquipmentShare.com Inc (NASDAQ:EQPT) has received an average rating of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $30.00.

A number of analysts have recently issued reports on EQPT shares. Citigroup lowered their price target on EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Wells Fargo & Company decreased their price target on shares of EquipmentShare.com from $25.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. UBS Group dropped their price target on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Truist Financial cut their target price on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Robert W. Baird decreased their target price on shares of EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, October 20th.

EquipmentShare.com Stock Down 5.5%

NASDAQ:EQPT opened at $17.18 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91. The company’s fifty day moving average price is $17.32 and its 200-day moving average price is $21.20. EquipmentShare.com has a 1-year low of $13.00 and a 1-year high of $35.50. The firm has a market capitalization of $4.35 billion and a P/E ratio of 55.42.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. As a group, equities research analysts anticipate that EquipmentShare.com will post 0.45 EPS for the current year.

EquipmentShare.com announced that its Board of Directors has initiated a share repurchase plan on Friday, July 10th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.4% of its shares through open market purchases. Share repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at EquipmentShare.com

In related news, insider William J. Schlacks purchased 4,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $19.56 per share, for a total transaction of $78,240.00. Following the completion of the purchase, the insider directly owned 58,950 shares of the company’s stock, valued at approximately $1,153,062. This trade represents a 7.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jabbok Schlacks purchased 22,900 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the purchase, the chief executive officer directly owned 125,000 shares in the company, valued at $2,220,000. This represents a 22.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 85,950 shares of company stock valued at $1,537,422 and sold 2,201,032 shares valued at $45,393,501. 32.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EquipmentShare.com

Large investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in EquipmentShare.com during the 2nd quarter worth $168,226,000. Waverly Advisors LLC purchased a new stake in shares of EquipmentShare.com during the second quarter worth approximately $2,387,000. Engineers Gate Manager LP purchased a new position in EquipmentShare.com in the 2nd quarter valued at $679,000. BigSur Wealth Management LLC purchased a new position in EquipmentShare.com in the 3rd quarter valued at $434,000. Finally, Bank of New York Mellon Corp purchased a new position in EquipmentShare.com in the 2nd quarter valued at $326,000.

About EquipmentShare.com

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.