EquipmentShare.com (NASDAQ:EQPT) Announces Earnings Results

EquipmentShare.com (NASDAQ:EQPT) issued its quarterly earnings results on Monday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14, Zacks reports. The business had revenue of $1.47 billion for the quarter.

EquipmentShare.com Price Performance

EquipmentShare.com stock traded up $1.53 during midday trading on Monday, reaching $16.21. The company had a trading volume of 2,353,341 shares, compared to its average volume of 2,536,453. The company has a market capitalization of $4.11 billion and a P/E ratio of 52.29. EquipmentShare.com has a 12-month low of $13.00 and a 12-month high of $35.50. The firm’s fifty day simple moving average is $16.95 and its 200-day simple moving average is $21.01. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91.

Insider Buying and Selling

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 cost of $18.64 per share, for a total transaction of $37,280.00. Following the purchase, the insider owned 60,950 shares in the company, valued at approximately $1,136,108. This represents a 3.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jabbok Schlacks bought 22,900 shares of EquipmentShare.com stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $17.76 per share, with a total value of $406,704.00. Following the acquisition, the chief executive officer directly owned 125,000 shares of the company’s stock, valued at approximately $2,220,000. The trade was a 22.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

EQPT has been the subject of a number of recent analyst reports. UBS Group cut their price objective 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. Truist Financial decreased their target price on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Robert W. Baird decreased their target price on EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 20th. Citigroup dropped their price target on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Finally, Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Six equities 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’s stock. Based on data from MarketBeat.com, EquipmentShare.com currently has a consensus rating of “Hold” and a consensus price target of $30.00.

EquipmentShare.com declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 22nd that authorizes the company to buy back $500 million in shares. This repurchase authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

About EquipmentShare.com

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services.

The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers’ equipment needs both on and off the jobsite.

EquipmentShare was founded in 2015 by brothers Willy and Jabbok Schlacks and is headquartered in Columbia, Missouri.