EquipmentShare.com (NASDAQ:EQPT) Sees Strong Trading Volume – What’s Next?

EquipmentShare.com Inc (NASDAQ:EQPT) shares saw unusually-strong trading volume on Wednesday . 1,731,400 shares were traded during trading, a decline of 16% from the previous session’s volume of 2,064,264 shares.The stock last traded at $17.2060 and had previously closed at $17.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EQPT. Citigroup raised their price objective on EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Citizens Jmp reiterated a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. BNP Paribas Exane assumed coverage on EquipmentShare.com in a research report on Monday, June 29th. They set a “neutral” rating and a $22.00 price target for the company. Truist Financial decreased their price target on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company lowered their price target 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. Six equities 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 data from MarketBeat, EquipmentShare.com presently has a consensus rating of “Hold” and an average price target of $36.33.

EquipmentShare.com Price Performance

The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90. The business has a 50-day simple moving average of $20.51. The stock has a market capitalization of $4.35 billion and a PE ratio of 132.62.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $989.00 million during the quarter. The firm’s revenue was up 38.1% on a year-over-year basis. On average, analysts forecast that EquipmentShare.com Inc will post 0.46 earnings per share for the current fiscal year.

EquipmentShare.com announced that its Board of Directors has initiated a share buyback plan on Friday, July 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 12.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other EquipmentShare.com news, Director Naveen Bhatia purchased 10,000 shares of EquipmentShare.com stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the acquisition, the director owned 312,000 shares of the company’s stock, valued at approximately $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 link. Also, Director W Bryan Hill purchased 21,803 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the transaction, the director owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. The trade was a 155.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 81,803 shares of company stock valued at $1,797,271. 32.81% of the stock is owned by company insiders.

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.