EquipmentShare.com Inc (NASDAQ:EQPT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) have been given an average rating of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $34.78.

EQPT has been the subject of several research reports. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price objective on shares of EquipmentShare.com in a report on Monday, June 22nd. UBS Group lowered their target price on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Wells Fargo & Company dropped their price target on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Truist Financial reiterated a “buy” rating and set a $35.00 price target (down from $38.00) on shares of EquipmentShare.com in a research note on Tuesday, August 25th. Finally, BNP Paribas Exane assumed coverage on EquipmentShare.com in a report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective for the company.

Insider Activity

In other news, major shareholder Neil Chheda sold 1,285,402 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total value of $26,504,989.24. Following the sale, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jabbok Schlacks purchased 22,900 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the purchase, the chief executive officer directly owned 125,000 shares in the company, valued at $2,220,000. This represents a 22.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 85,950 shares of company stock valued at $1,537,422 and have sold 2,201,032 shares valued at $45,393,501. Insiders own 32.81% of the company’s stock.

Institutional Investors Weigh In On EquipmentShare.com

A number of hedge funds and other institutional investors have recently bought and sold shares of EQPT. Engineers Gate Manager LP purchased a new stake in EquipmentShare.com during the 2nd quarter worth about $679,000. Arizona State Retirement System purchased a new position in EquipmentShare.com during the 2nd quarter valued at about $205,000. Waverly Advisors LLC purchased a new position in EquipmentShare.com during the 2nd quarter valued at about $2,387,000. Chico Wealth RIA purchased a new position in EquipmentShare.com during the 2nd quarter valued at about $322,000. Finally, Wellington Management Group LLP bought a new stake in shares of EquipmentShare.com during the second quarter valued at about $168,226,000.

EquipmentShare.com Price Performance

EQPT opened at $18.50 on Wednesday. EquipmentShare.com has a fifty-two week low of $15.71 and a fifty-two week high of $35.50. The firm has a 50-day moving average of $18.75 and a 200 day moving average of $20.08. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42. The firm has a market cap of $4.69 billion and a P/E ratio of 59.68.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.28. The company had revenue of $1.45 billion during the quarter. On average, research analysts expect that EquipmentShare.com will post 0.44 EPS for the current year.

EquipmentShare.com declared that its board has authorized a stock repurchase program on Friday, July 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 12.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

EquipmentShare.com Company Profile

EquipmentShare is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to a broad range of heavy equipment, including earthmoving, aerial, material-handling and general construction machinery, along with related parts, maintenance and support services.

Its technology platform, known as T3, is designed to help contractors and equipment owners monitor fleets, track equipment location and utilization, manage maintenance, and coordinate assets, teams and projects.