EquipmentShare.com (NASDAQ:EQPT) Stock Gets Price Target Reduction from Robert W. Baird

EquipmentShare.com (NASDAQ:EQPT) had its target price decreased by Robert W. Baird from $35.00 to $28.00 in a research report sent to investors on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

EQPT has been the subject of several other research reports. Truist Financial decreased their price objective on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 5th. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Citigroup dropped their target price on EquipmentShare.com from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Finally, Wells Fargo & Company reduced their price target on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.67.

EquipmentShare.com Price Performance

NASDAQ EQPT opened at $16.33 on Tuesday. The company has a fifty day moving average of $17.63 and a 200 day moving average of $19.54. EquipmentShare.com has a 1 year low of $13.00 and a 1 year high of $35.50. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42.

EquipmentShare.com (NASDAQ:EQPT) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.28. The business had revenue of $1.45 billion during the quarter. On average, research analysts anticipate that EquipmentShare.com will post 0.45 earnings per share for the current fiscal year.

EquipmentShare.com announced that its Board of Directors has initiated a share buyback program on Friday, July 10th that permits the company to buy back $500.00 million in shares. This buyback authorization permits the company to repurchase up to 12.4% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at EquipmentShare.com

In other news, insider William Schlacks acquired 2,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of $18.64 per share, with a total value of $37,280.00. Following the completion of the acquisition, the insider owned 60,950 shares of the company’s stock, valued at approximately $1,136,108. This represents a 3.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Neil Chheda sold 1,285,402 shares of EquipmentShare.com 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 transaction, the insider directly owned 40,476,688 shares of the company’s stock, valued at $834,629,306.56. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 85,950 shares of company stock worth $1,537,422 and have sold 2,201,032 shares worth $45,393,501. 32.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On EquipmentShare.com

A number of institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in shares of EquipmentShare.com in the 3rd quarter valued at about $157,000. BigSur Wealth Management LLC acquired a new position in EquipmentShare.com in the 3rd quarter worth about $434,000. Engineers Gate Manager LP acquired a new position in EquipmentShare.com in the 2nd quarter worth about $679,000. Arizona State Retirement System purchased a new position in EquipmentShare.com during the second quarter worth approximately $205,000. Finally, Waverly Advisors LLC purchased a new position in EquipmentShare.com during the second quarter worth approximately $2,387,000.

About EquipmentShare.com

EquipmentShare is a construction equipment rental and technology company that combines equipment, digital tools and services for contractors and other businesses. Its operations include the rental of construction equipment, equipment sales, maintenance and repair, transportation, and related support services.

The company’s technology platform, including its T3 telematics and fleet-management tools, is designed to help customers monitor equipment location, utilization, maintenance needs and operating conditions.