EquipmentShare.com (NASDAQ:EQPT) Sets New 12-Month Low – Should You Sell?

EquipmentShare.com Inc (NASDAQ:EQPT)’s stock price hit a new 52-week low during trading on Thursday. The company traded as low as $15.32 and last traded at $14.6620, with a volume of 4,002,319 shares traded. The stock had previously closed at $17.68.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EQPT. Weiss Ratings cut EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Citigroup upped their price objective on EquipmentShare.com from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Truist Financial decreased their price objective on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 5th. Citizens Jmp restated a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a research note on Monday, June 22nd. Finally, Wells Fargo & Company reduced their price target on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.33.

EquipmentShare.com Stock Performance

The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16. The stock’s fifty day moving average is $18.59 and its two-hundred day moving average is $19.89. The firm has a market capitalization of $3.82 billion and a price-to-earnings ratio of 48.68.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.28. The firm had revenue of $1.45 billion during the quarter. On average, analysts predict that EquipmentShare.com Inc will post 0.45 earnings per share for the current year.

EquipmentShare.com declared that its board has approved a share repurchase program on Friday, July 10th that allows the company to repurchase $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 12.4% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other EquipmentShare.com news, insider William Schlacks acquired 4,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $19.56 per share, for a total transaction of $78,240.00. Following the completion of the purchase, the insider directly owned 58,950 shares of the company’s stock, valued at approximately $1,153,062. This represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jabbok Schlacks acquired 22,900 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $17.76 per share, with a total value of $406,704.00. Following the completion of the transaction, the chief executive officer 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 SEC filing for this purchase provides additional information. Over the last 90 days, 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. Company insiders own 32.81% of the company’s stock.

Hedge Funds Weigh In On EquipmentShare.com

Several institutional investors and hedge funds have recently modified their holdings of EQPT. Wellington Management Group LLP acquired a new stake in shares of EquipmentShare.com during the 2nd quarter worth about $168,226,000. Waverly Advisors LLC bought a new position in EquipmentShare.com in the second quarter valued at about $2,387,000. Engineers Gate Manager LP acquired a new position in EquipmentShare.com during the second quarter worth about $679,000. Bank of New York Mellon Corp acquired a new position in EquipmentShare.com during the second quarter worth about $326,000. Finally, Chico Wealth RIA bought a new position in shares of EquipmentShare.com in the second quarter worth about $322,000.

About EquipmentShare.com

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.