EquipmentShare.com (NASDAQ:EQPT) Shares Down 5.7% – Here’s Why

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) were down 5.7% on Thursday . The company traded as low as $21.22 and last traded at $21.0340. 584,304 shares changed hands during trading, a decline of 68% from the average daily volume of 1,836,835 shares. The stock had previously closed at $22.30.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised EquipmentShare.com from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Robert W. Baird reduced their price target on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Citigroup lifted their price objective on EquipmentShare.com from $22.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company lowered their price target on shares of EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

EquipmentShare.com Stock Down 9.1%

The company has a market capitalization of $5.12 billion and a P/E ratio of 155.79. The stock has a 50 day moving average of $21.88. The company has a current ratio of 2.47, a quick ratio of 1.90 and a debt-to-equity ratio of 2.71.

EquipmentShare.com (NASDAQ:EQPT) last issued its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $989.00 million during the quarter. The company’s quarterly revenue was up 38.1% on a year-over-year basis. Analysts forecast that EquipmentShare.com Inc will post 0.55 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jabbok Schlacks acquired 50,000 shares of EquipmentShare.com stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $21.12 per share, for a total transaction of $1,056,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $1,056,000. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naveen Bhatia purchased 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the director owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. This trade represents a 3.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 81,803 shares of company stock worth $1,797,271 over the last ninety days.

About EquipmentShare.com

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