EquipmentShare.com Inc’s (NASDAQ:EQPT) Lock-Up Period To End Tomorrow

EquipmentShare.com’s (NASDAQ:EQPT) lock-up period is set to end on Wednesday, July 22nd. EquipmentShare.com had issued 30,500,000 shares in its IPO on January 23rd. The total size of the offering was $747,250,000 based on an initial share price of $24.50. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

EQPT has been the topic of a number of research analyst reports. BNP Paribas Exane started coverage on EquipmentShare.com in a research note on Monday, June 29th. They issued a “neutral” rating and a $22.00 target price on the stock. Citigroup lifted their price target on EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price objective on shares of EquipmentShare.com in a report on Monday, June 22nd. Weiss Ratings cut shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company decreased their price objective on shares of EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.33.

EquipmentShare.com Stock Performance

Shares of EQPT opened at $16.06 on Tuesday. EquipmentShare.com has a fifty-two week low of $15.95 and a fifty-two week high of $35.50. The company has a market cap of $4.05 billion and a price-to-earnings ratio of 123.54. The business has a 50 day simple moving average of $20.65. 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 released its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. The business had revenue of $989.00 million for the quarter. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. As a group, equities research analysts predict that EquipmentShare.com will post 0.46 earnings per share for the current year.

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

Insider Buying and Selling at EquipmentShare.com

In other EquipmentShare.com news, Director Naveen Bhatia purchased 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the transaction, the director directly owned 312,000 shares in the company, valued at approximately $7,556,640. This represents a 3.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director W Bryan Hill acquired 21,803 shares of EquipmentShare.com stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the completion of the purchase, the director directly owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. The trade was a 155.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 81,803 shares of company stock worth $1,797,271 over the last three months. Company insiders own 32.81% of the company’s stock.

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.