EquipmentShare.com (NASDAQ:EQPT) Hits New 1-Year Low – Here’s Why

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) hit a new 52-week low on Tuesday . The stock traded as low as $15.71 and last traded at $15.7260, with a volume of 279150 shares. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EQPT. Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 price objective on shares of EquipmentShare.com in a report on Monday, June 22nd. Wells Fargo & Company dropped their target price on shares of EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. BNP Paribas Exane began coverage on shares of EquipmentShare.com in a research report on Monday, June 29th. They issued a “neutral” rating and a $22.00 target price on the stock. Citigroup upped their target price on shares of EquipmentShare.com from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Truist Financial decreased their price target on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Trading Up 1.4%

The stock has a market cap of $4.11 billion and a price-to-earnings ratio of 125.19. 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 stock’s 50 day moving average price is $20.65.

EquipmentShare.com (NASDAQ:EQPT) last issued its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. The firm had revenue of $989.00 million during the quarter. EquipmentShare.com’s revenue was up 38.1% compared to the same quarter last year. Analysts predict that EquipmentShare.com Inc will post 0.46 EPS for the current fiscal year.

EquipmentShare.com announced that its Board of Directors has authorized a stock buyback plan on Friday, July 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 12.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other EquipmentShare.com news, Director Naveen Bhatia acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director owned 312,000 shares of the company’s stock, valued at $7,556,640. The trade was a 3.31% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jabbok Schlacks bought 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $21.12 per share, for a total transaction of $1,056,000.00. Following the completion of the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,056,000. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 81,803 shares of company stock worth $1,797,271 in the last three months. 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.