Truist Financial Cuts EquipmentShare.com (NASDAQ:EQPT) Price Target to $38.00

EquipmentShare.com (NASDAQ:EQPT) had its price target dropped by equities researchers at Truist Financial from $41.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 92.41% from the company’s current price.

EQPT has been the subject of a number of other reports. Wall Street Zen raised EquipmentShare.com from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. BNP Paribas Exane began coverage on EquipmentShare.com in a research report on Monday. They issued a “neutral” rating and a $22.00 price objective on the stock. Citizens Jmp restated a “market outperform” rating and issued a $42.00 price objective on shares of EquipmentShare.com in a research note on Monday, June 22nd. Wells Fargo & Company decreased their target price on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 13th. Finally, Weiss Ratings cut EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. 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 company’s stock. According to data from MarketBeat.com, EquipmentShare.com has an average rating of “Hold” and an average price target of $37.89.

EquipmentShare.com Stock Performance

Shares of EQPT stock opened at $19.75 on Thursday. The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 2.71. The company has a market cap of $4.98 billion and a P/E ratio of 151.92. EquipmentShare.com has a 52-week low of $17.95 and a 52-week high of $35.50. The stock has a 50-day moving average price of $21.79.

EquipmentShare.com (NASDAQ:EQPT) last posted its 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 firm had revenue of $989.00 million for the quarter. The company’s revenue was up 38.1% on a year-over-year basis. On average, sell-side analysts forecast that EquipmentShare.com will post 0.54 EPS for the current fiscal year.

Insider Transactions at EquipmentShare.com

In related news, Director Naveen Bhatia purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price 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 $7,556,640. This trade represents a 3.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director W Bryan Hill acquired 21,803 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $22.89 per share, for a total transaction of $499,070.67. Following the purchase, the director owned 35,794 shares of the company’s stock, valued at $819,324.66. The trade was a 155.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 81,803 shares of company stock worth $1,797,271 in the last quarter.

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.