EquipmentShare.com Target of Unusually High Options Trading (NASDAQ:EQPT)

EquipmentShare.com Inc (NASDAQ:EQPT) was the target of unusually large options trading on Wednesday. Stock traders bought 2,954 put options on the stock. This represents an increase of approximately 98% compared to the typical daily volume of 1,492 put options.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EQPT. Truist Financial cut their price objective on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They set a “neutral” rating and a $22.00 target price on the stock. Wells Fargo & Company dropped their target price on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $42.00 price target on shares of EquipmentShare.com in a research note on Monday, June 22nd. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, EquipmentShare.com has a consensus rating of “Hold” and a consensus price target of $36.33.

EquipmentShare.com Stock Performance

EquipmentShare.com stock traded down $0.30 during trading on Wednesday, reaching $17.24. The company had a trading volume of 3,279,792 shares, compared to its average volume of 2,086,806. The company has a 50-day moving average of $20.51. EquipmentShare.com has a 1-year low of $15.71 and a 1-year high of $35.50. The company has a market capitalization of $4.35 billion and a price-to-earnings ratio of 132.69. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90.

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

EquipmentShare.com announced that its Board of Directors has initiated a stock buyback plan on Friday, July 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at EquipmentShare.com

In other news, CEO Jabbok Schlacks acquired 50,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price 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 of the company’s stock, valued at $1,056,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Naveen Bhatia bought 10,000 shares of the business’s 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 completion of the acquisition, the director owned 312,000 shares in the company, valued at approximately $7,556,640. This represents a 3.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 81,803 shares of company stock valued at $1,797,271 in the last 90 days. 32.81% of the stock is currently owned by company 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.