EquipmentShare.com (NASDAQ:EQPT) Trading Down 7.3% on Analyst Downgrade

EquipmentShare.com Inc (NASDAQ:EQPT) was down 7.3% during trading on Wednesday after Citigroup lowered their price target on the stock from $26.00 to $20.00. Citigroup currently has a neutral rating on the stock. EquipmentShare.com traded as low as $16.65 and last traded at $16.6650. Approximately 1,225,706 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 1,918,865 shares. The stock had previously closed at $17.98.

EQPT has been the subject of several other reports. Robert W. Baird lowered their price objective on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Wall Street Zen raised shares of EquipmentShare.com from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company decreased their price target on shares of EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 13th. Truist Financial lowered their price target on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $42.00 price objective on shares of EquipmentShare.com in a research note on Monday, June 22nd. Six 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, the stock has an average rating of “Hold” and an average price target of $37.22.

Insider Buying and Selling at EquipmentShare.com

In related news, Director W Bryan Hill bought 21,803 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $22.89 per share, with a total value of $499,070.67. Following the transaction, the director owned 35,794 shares of the company’s stock, valued at $819,324.66. The trade was a 155.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Naveen Bhatia purchased 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the transaction, the director owned 312,000 shares in the company, valued at approximately $7,556,640. This represents a 3.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 81,803 shares of company stock valued at $1,797,271.

EquipmentShare.com Stock Performance

The firm has a 50 day moving average of $21.44. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47. The stock has a market cap of $4.19 billion and a PE ratio of 127.57.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly 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. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, analysts expect that EquipmentShare.com Inc will post 0.46 EPS for the current fiscal year.

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.