EquipmentShare.com (NASDAQ:EQPT) Given New $28.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird lowered EquipmentShare.com’s price target from $35 to $28 while maintaining an “outperform” rating, implying roughly 101% upside from the stock’s $13.95 price. The analyst consensus rating is “Hold,” with an average target of $30.78.
• EquipmentShare.com reported quarterly EPS of $0.18, exceeding the consensus estimate of a $0.10 loss, on revenue of $1.45 billion. The company also authorized a $500 million share-repurchase program, covering up to 12.4% of outstanding shares.
• Recent insider activity was mixed: insiders bought 85,950 shares worth $1.54 million over three months but sold 2.20 million shares valued at $45.4 million. Insiders own 32.81% of the company, while several institutions recently initiated positions.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) had its target price lowered by equities researchers at Robert W. Baird from $35.00 to $28.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 100.72% from the stock's current price.

Several other analysts also recently commented on the stock. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a report on Monday, June 29th. They issued a "neutral" rating and a $22.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Citigroup lowered their price target on shares of EquipmentShare.com from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. Citizens Jmp reaffirmed 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, Weiss Ratings lowered EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th. 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. According to MarketBeat, EquipmentShare.com currently has an average rating of "Hold" and a consensus price target of $30.78.

EquipmentShare.com Price Performance

Shares of NASDAQ EQPT opened at $13.95 on Tuesday. The business's 50 day moving average price is $17.89 and its 200 day moving average price is $19.63. The firm has a market cap of $3.53 billion and a P/E ratio of 45.00. EquipmentShare.com has a 52 week low of $13.00 and a 52 week high of $35.50. The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.28. The business had revenue of $1.45 billion during the quarter. On average, sell-side analysts expect that EquipmentShare.com will post 0.45 earnings per share for the current year.

EquipmentShare.com announced that its Board of Directors has approved a share repurchase program on Friday, July 10th that permits the company to buy back $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 12.4% of its stock through open market purchases. Share buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, insider William J. Schlacks bought 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $19.56 per share, for a total transaction of $78,240.00. Following the purchase, the insider directly owned 58,950 shares in the company, valued at approximately $1,153,062. This trade represents a 7.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jabbok Schlacks purchased 22,900 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the acquisition, the chief executive officer directly owned 125,000 shares of the company's stock, valued at $2,220,000. This represents a 22.43% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 85,950 shares of company stock valued at $1,537,422 and sold 2,201,032 shares valued at $45,393,501. Insiders own 32.81% of the company's stock.

Institutional Trading of EquipmentShare.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQPT. Wellington Management Group LLP acquired a new position in shares of EquipmentShare.com in the second quarter worth about $168,226,000. Waverly Advisors LLC purchased a new stake in shares of EquipmentShare.com during the 2nd quarter worth about $2,387,000. Engineers Gate Manager LP purchased a new stake in shares of EquipmentShare.com during the 2nd quarter worth about $679,000. BigSur Wealth Management LLC acquired a new stake in shares of EquipmentShare.com during the 3rd quarter valued at about $434,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of EquipmentShare.com during the 2nd quarter valued at about $326,000.

EquipmentShare.com Company Profile

EquipmentShare is a construction equipment rental and technology company that combines equipment, digital tools and services for contractors and other businesses. Its operations include the rental of construction equipment, equipment sales, maintenance and repair, transportation, and related support services.

The company's technology platform, including its T3 telematics and fleet-management tools, is designed to help customers monitor equipment location, utilization, maintenance needs and operating conditions.

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