EquipmentShare.com (NASDAQ:EQPT) Price Target Raised to $19.00

EquipmentShare.com (NASDAQ:EQPT) had its price target increased by Citigroup from $18.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently commented on EQPT. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They set a “neutral” rating and a $22.00 price objective for the company. Citizens Jmp reissued a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a research note on Monday, June 22nd. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Wells Fargo & Company lowered 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. Finally, Truist Financial dropped their price objective on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Stock Down 2.8%

NASDAQ:EQPT opened at $17.15 on Tuesday. The firm’s fifty day moving average price is $20.90. EquipmentShare.com has a 52 week low of $15.95 and a 52 week high of $35.50. The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 2.71. The company has a market cap of $4.33 billion and a price-to-earnings ratio of 131.92.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The firm had revenue of $989.00 million for the quarter. EquipmentShare.com’s revenue was up 38.1% on a year-over-year basis. As a group, analysts anticipate that EquipmentShare.com will post 0.46 EPS for the current year.

EquipmentShare.com declared that its board has initiated a stock buyback plan on Friday, July 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 12.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at EquipmentShare.com

In related news, Director W Bryan Hill purchased 21,803 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $22.89 per share, for a total transaction of $499,070.67. Following the purchase, the director directly owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. This represents a 155.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naveen Bhatia acquired 10,000 shares of EquipmentShare.com stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director owned 312,000 shares in the company, valued at $7,556,640. This represents a 3.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 81,803 shares of company stock valued at $1,797,271 in the last ninety days.

EquipmentShare.com 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.