Brokerages Set EquipmentShare.com Inc (NASDAQ:EQPT) Price Target at $36.33

EquipmentShare.com Inc (NASDAQ:EQPT) has received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $36.3333.

Several analysts have issued reports on EQPT shares. Wells Fargo & Company cut their price objective on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. BNP Paribas Exane initiated coverage on EquipmentShare.com in a research report on Monday, June 29th. They issued a “neutral” rating and a $22.00 target price for the company. Citigroup boosted their price target on EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price target on shares of EquipmentShare.com in a research report on Monday, June 22nd. Finally, 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.

Insiders Place Their Bets

In other EquipmentShare.com news, Director Naveen Bhatia purchased 10,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the director owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. This represents a 3.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jabbok Schlacks acquired 50,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were acquired 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 in the company, valued at approximately $1,056,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 81,803 shares of company stock valued at $1,797,271.

EquipmentShare.com Stock Performance

EQPT opened at $16.61 on Friday. The business has a 50-day moving average of $20.80. The company has a market cap of $4.19 billion and a P/E ratio of 127.77. EquipmentShare.com has a 1-year low of $15.95 and a 1-year high of $35.50. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90.

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

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

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.