EquipmentShare.com Inc (NASDAQ:EQPT) Stock Has Average Target Price of $34.78 According to Brokerages

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) have been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $34.78.

A number of research analysts recently weighed in on the stock. BNP Paribas Exane initiated coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective for the company. UBS Group lowered their price target on shares of EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Wells Fargo & Company cut their price objective 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. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Finally, Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th.

EquipmentShare.com Stock Up 5.8%

Shares of NASDAQ EQPT opened at $18.50 on Wednesday. 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 stock has a market capitalization of $4.69 billion and a PE ratio of 59.68. EquipmentShare.com has a one year low of $15.71 and a one year high of $35.50. The business’s fifty day moving average price is $18.75 and its 200-day moving average price is $20.11.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.28. The firm had revenue of $1.45 billion during the quarter. On average, equities research analysts anticipate that EquipmentShare.com will post 0.44 EPS for the current year.

EquipmentShare.com announced that its board has authorized a stock repurchase plan on Friday, July 10th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 12.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at EquipmentShare.com

In related 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 directly owned 40,476,688 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, CEO Jabbok Schlacks bought 22,900 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $17.76 per share, with a total value of $406,704.00. Following the completion of the transaction, the chief executive officer owned 125,000 shares of the company’s stock, valued at $2,220,000. The trade was a 22.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 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 owned by insiders.

Institutional Trading of EquipmentShare.com

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System bought a new position in shares of EquipmentShare.com during the 2nd quarter valued at $205,000. Chico Wealth RIA bought a new position in shares of EquipmentShare.com during the second quarter valued at about $322,000. Bank of New York Mellon Corp purchased a new stake in EquipmentShare.com during the 2nd quarter valued at about $326,000. Engineers Gate Manager LP bought a new position in EquipmentShare.com during the 2nd quarter worth approximately $679,000. Finally, Waverly Advisors LLC purchased a new position in EquipmentShare.com in the 2nd quarter worth approximately $2,387,000.

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.