EquipmentShare.com Inc (NASDAQ:EQPT) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.33.

A number of brokerages recently commented on EQPT. Citizens Jmp restated a “market outperform” rating and set a $42.00 price objective on shares of EquipmentShare.com in a research note on Monday, June 22nd. Citigroup raised their target price on EquipmentShare.com from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. UBS Group reduced 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. Wells Fargo & Company lowered their price target on shares of EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, BNP Paribas Exane initiated coverage on shares of EquipmentShare.com in a report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective on the stock.

Insider Buying and Selling at EquipmentShare.com

In other EquipmentShare.com news, major shareholder Neil Chheda sold 1,285,402 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total value of $26,504,989.24. Following the sale, the insider owned 40,476,688 shares in the company, valued at approximately $834,629,306.56. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jabbok Schlacks purchased 22,900 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $406,704.00. Following the acquisition, the chief executive officer owned 125,000 shares of the company’s stock, valued at approximately $2,220,000. The trade was a 22.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP bought a new position in shares of EquipmentShare.com in the second quarter worth $679,000. Arizona State Retirement System bought a new stake in shares of EquipmentShare.com during the second quarter valued at about $205,000. Waverly Advisors LLC acquired a new stake in EquipmentShare.com in the second quarter worth about $2,387,000. Chico Wealth RIA acquired a new stake in EquipmentShare.com in the second quarter worth about $322,000. Finally, Wellington Management Group LLP bought a new position in EquipmentShare.com in the 2nd quarter valued at about $168,226,000.

EquipmentShare.com Stock Performance

Shares of EQPT stock opened at $18.90 on Wednesday. The company has a market cap of $4.79 billion and a P/E ratio of 60.97. The business has a 50 day moving average of $18.73 and a two-hundred day moving average of $20.00. EquipmentShare.com has a 52 week low of $15.71 and a 52 week high of $35.50. The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16.

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, topping analysts’ consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. As a group, analysts anticipate that EquipmentShare.com will post 0.44 EPS for the current year.

EquipmentShare.com declared that its board has approved a stock repurchase program on Friday, July 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

EquipmentShare.com Company Profile

EquipmentShare is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to a broad range of heavy equipment, including earthmoving, aerial, material-handling and general construction machinery, along with related parts, maintenance and support services.

Its technology platform, known as T3, is designed to help contractors and equipment owners monitor fleets, track equipment location and utilization, manage maintenance, and coordinate assets, teams and projects.