EquipmentShare.com (NASDAQ:EQPT) Stock Price Up 12.8% – Still a Buy?

EquipmentShare.com Inc (NASDAQ:EQPT) shares traded up 12.8% during mid-day trading on Wednesday. The stock traded as high as $15.19 and last traded at $15.2560. Approximately 2,598,620 shares traded hands during trading, an increase of 1% from the average session volume of 2,564,141 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

A number of research firms have commented on EQPT. Weiss Ratings downgraded shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Truist Financial dropped their target price on shares of EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Citigroup reduced their price target on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 20th. UBS Group decreased their price target on shares of EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Wells Fargo & Company lowered their price objective on shares of EquipmentShare.com from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.78.

EquipmentShare.com Trading Up 13.5%

The firm has a market cap of $3.89 billion and a P/E ratio of 118.16. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42. The firm has a fifty day moving average of $16.87 and a 200-day moving average of $20.97.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $1.47 billion during the quarter. EquipmentShare.com had a return on equity of 16.97% and a net margin of 1.37%. Equities research analysts forecast that EquipmentShare.com Inc will post 0.45 earnings per share for the current year.

EquipmentShare.com declared that its board has approved a stock repurchase program on Wednesday, July 22nd that permits the company to repurchase $500 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.3% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider William Schlacks acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $18.64 per share, for a total transaction of $37,280.00. Following the transaction, the insider directly owned 60,950 shares in the company, valued at $1,136,108. This trade represents a 3.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jabbok Schlacks bought 22,900 shares of EquipmentShare.com stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $17.76 per share, with a total value 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 trade represents a 22.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 85,950 shares of company stock valued at $1,537,422 and have sold 2,201,032 shares valued at $45,393,501. Corporate insiders own 32.81% of the company’s stock.

Hedge Funds Weigh In On EquipmentShare.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQPT. Wellington Management Group LLP acquired a new stake in EquipmentShare.com in the 2nd quarter valued at approximately $168,226,000. Waverly Advisors LLC bought a new position in shares of EquipmentShare.com in the second quarter worth $2,387,000. Canvas Wealth Advisors LLC grew its stake in shares of EquipmentShare.com by 22.9% in the third quarter. Canvas Wealth Advisors LLC now owns 117,256 shares of the company’s stock worth $2,132,000 after purchasing an additional 21,846 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of EquipmentShare.com by 318.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 83,049 shares of the company’s stock valued at $1,443,000 after purchasing an additional 63,191 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of EquipmentShare.com during the second quarter valued at $679,000.

EquipmentShare.com Company Profile

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services. The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers’ equipment needs both on and off the jobsite.