EQPT (NASDAQ:EQPT) Stock Price Down 5.9% After Analyst Downgrade

EQPT (NASDAQ:EQPT)’s stock price dropped 5.9% on Friday after Wells Fargo & Company lowered their price target on the stock from $41.00 to $35.00. Wells Fargo & Company currently has an overweight rating on the stock. EQPT traded as low as $21.06 and last traded at $21.39. Approximately 473,925 shares were traded during trading, a decline of 62% from the average daily volume of 1,263,248 shares. The stock had previously closed at $22.74.

A number of other research firms have also issued reports on EQPT. Zacks Research raised shares of EQPT to a “hold” rating in a research report on Wednesday, February 18th. KeyCorp started coverage on shares of EQPT in a research report on Tuesday, February 17th. They set a “sector weight” rating on the stock. Wall Street Zen upgraded shares of EQPT from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup decreased their target price on shares of EQPT from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. Finally, Robert W. Baird lowered their price target on shares of EQPT from $63.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, EQPT currently has an average rating of “Moderate Buy” and an average price target of $41.50.

EQPT Price Performance

EQPT (NASDAQ:EQPT) last posted its earnings results on Wednesday, March 18th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion.

EQPT Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.