Truist Financial Has Lowered Expectations for EquipmentShare.com (NASDAQ:EQPT) Stock Price

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) had its price objective reduced by analysts at Truist Financial from $35.00 to $31.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 62.40% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Citigroup lifted their target price on EquipmentShare.com from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. 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 price target for the company. Citizens Jmp restated a "market outperform" rating and set a $42.00 price objective on shares of EquipmentShare.com in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. Finally, UBS Group decreased their price objective on shares of EquipmentShare.com from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $34.33.

EquipmentShare.com Stock Up 3.2%

Shares of EQPT traded up $0.59 on Monday, reaching $19.09. The company's stock had a trading volume of 1,023,014 shares, compared to its average volume of 2,383,930. EquipmentShare.com has a twelve month low of $15.71 and a twelve month high of $35.50. The stock has a market capitalization of $4.84 billion and a PE ratio of 61.53. The company has a current ratio of 2.42, a quick ratio of 1.91 and a debt-to-equity ratio of 3.16. The firm has a fifty day moving average of $18.75 and a 200-day moving average of $20.08.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. Equities analysts predict that EquipmentShare.com will post 0.44 EPS for the current year.

EquipmentShare.com declared that its board has authorized a share buyback plan on Friday, July 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 12.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at EquipmentShare.com

In other news, major shareholder Neil Chheda sold 1,285,402 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total transaction of $26,504,989.24. Following the completion of the sale, the insider owned 40,476,688 shares in the company, valued at $834,629,306.56. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William Schlacks purchased 2,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of $18.64 per share, for a total transaction of $37,280.00. Following the acquisition, the insider directly owned 60,950 shares in the company, valued at $1,136,108. This trade represents a 3.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 85,950 shares of company stock worth $1,537,422 and sold 2,201,032 shares worth $45,393,501. 32.81% of the stock is currently owned by company insiders.

Institutional Trading of EquipmentShare.com

A number of large investors have recently bought and sold shares of EQPT. Arizona State Retirement System purchased a new position in shares of EquipmentShare.com during the 2nd quarter valued at $205,000. Chico Wealth RIA bought a new stake in EquipmentShare.com in the 2nd quarter valued at about $322,000. Bank of New York Mellon Corp bought a new stake in EquipmentShare.com in the 2nd quarter valued at about $326,000. Engineers Gate Manager LP purchased a new stake in EquipmentShare.com during the second quarter valued at about $679,000. Finally, Waverly Advisors LLC purchased a new stake in EquipmentShare.com during the second quarter valued at about $2,387,000.

EquipmentShare.com Company Profile

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.

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