EquipmentShare.com (NASDAQ:EQPT) Sets New 1-Year Low – Here’s Why

EquipmentShare.com Inc (NASDAQ:EQPT) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $17.95 and last traded at $17.8860, with a volume of 171803 shares trading hands. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQPT. Wells Fargo & Company decreased their target price on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 13th. Citigroup cut their price target on EquipmentShare.com from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday. BNP Paribas Exane began coverage on EquipmentShare.com in a research report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective for the company. Robert W. Baird reduced their target price on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings downgraded shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.22.

EquipmentShare.com Trading Down 7.8%

The stock’s 50 day simple moving average is $21.34. 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 company has a market capitalization of $4.18 billion and a price-to-earnings ratio of 127.54.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly earnings data 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 company had revenue of $989.00 million for the quarter. EquipmentShare.com’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that EquipmentShare.com Inc will post 0.46 EPS for the current fiscal year.

Insider Activity at EquipmentShare.com

In other news, CEO Jabbok Schlacks purchased 50,000 shares of EquipmentShare.com stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $21.12 per share, for a total transaction of $1,056,000.00. Following the completion of the transaction, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,056,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naveen Bhatia acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the purchase, the director directly owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. The trade was a 3.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 81,803 shares of company stock valued at $1,797,271 in the last ninety days.

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.