EquipmentShare.com (NASDAQ:EQPT) Reaches New 52-Week Low – What’s Next?

EquipmentShare.com Inc (NASDAQ:EQPT)’s share price hit a new 52-week low on Thursday. The company traded as low as $15.32 and last traded at $14.6620, with a volume of 4002319 shares changing hands. The stock had previously closed at $17.68.

Analyst Ratings Changes

EQPT has been the topic of several research reports. Citigroup upped their price objective on EquipmentShare.com from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. UBS Group dropped their target price on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. BNP Paribas Exane started coverage on EquipmentShare.com in a report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price target on the stock. Truist Financial lowered their price objective on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, EquipmentShare.com has an average rating of “Hold” and a consensus price target of $34.33.

EquipmentShare.com Stock Down 16.7%

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 cap of $3.73 billion and a price-to-earnings ratio of 47.49. The firm has a 50 day simple moving average of $18.73 and a two-hundred day simple moving average of $19.96.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion during the quarter. As a group, sell-side analysts expect that EquipmentShare.com Inc will post 0.44 EPS for the current year.

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

Insider Transactions at EquipmentShare.com

In other news, major shareholder Neil Chheda sold 1,285,402 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total transaction of $26,504,989.24. Following the completion of the sale, the insider owned 40,476,688 shares of the company’s stock, valued at $834,629,306.56. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William J. Schlacks acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of $18.64 per share, for a total transaction of $37,280.00. Following the completion of the transaction, the insider directly owned 60,950 shares in the company, valued at $1,136,108. This represents a 3.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 85,950 shares of company stock valued at $1,537,422 and have sold 2,201,032 shares valued at $45,393,501. 32.81% of the stock is currently owned by insiders.

Institutional Trading of EquipmentShare.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System bought a new position in EquipmentShare.com in the second quarter valued at $205,000. Chico Wealth RIA acquired a new stake in shares of EquipmentShare.com in the second quarter valued at about $322,000. Bank of New York Mellon Corp acquired a new stake in shares of EquipmentShare.com in the second quarter valued at about $326,000. Engineers Gate Manager LP bought a new position in EquipmentShare.com in the second quarter valued at approximately $679,000. Finally, Waverly Advisors LLC bought a new position in EquipmentShare.com in the second quarter valued at approximately $2,387,000.

About EquipmentShare.com

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.