EquipmentShare.com Inc’s Lock-Up Period To End on July 22nd (NASDAQ:EQPT)

EquipmentShare.com’s (NASDAQ:EQPT) lock-up period is set to expire on Wednesday, July 22nd. EquipmentShare.com had issued 30,500,000 shares in its public offering on January 23rd. The total size of the offering was $747,250,000 based on an initial share price of $24.50. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQPT. Wells Fargo & Company reduced their target price on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. BNP Paribas Exane began coverage on EquipmentShare.com in a report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective on the stock. Truist Financial reduced their price objective on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings cut EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Finally, Citigroup raised their price target on shares of EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.33.

EquipmentShare.com Trading Down 2.8%

Shares of EquipmentShare.com stock opened at $17.15 on Friday. The business’s fifty day simple moving average is $20.90. The company has a current ratio of 2.47, a quick ratio of 1.90 and a debt-to-equity ratio of 2.71. EquipmentShare.com has a twelve month low of $15.95 and a twelve month high of $35.50. The stock has a market cap of $4.33 billion and a PE ratio of 131.92.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company 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. Analysts forecast that EquipmentShare.com will post 0.46 earnings per share for the current year.

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

Insider Activity

In related news, CEO Jabbok Schlacks purchased 50,000 shares of EquipmentShare.com stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $1,056,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director W Bryan Hill purchased 21,803 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $22.89 per share, with a total value of $499,070.67. Following the acquisition, the director owned 35,794 shares in the company, valued at $819,324.66. This trade represents a 155.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 81,803 shares of company stock worth $1,797,271.

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.