EquipmentShare.com Inc (NASDAQ:EQPT) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analyst consensus is “Hold” for EquipmentShare.com, with six buy, five hold and one sell rating among 12 covering brokers. The average 12-month price target is $34.78, well above the stock’s reported $18.50 price.
• EQPT recently reported quarterly EPS of $0.18, beating the consensus estimate of a $0.10 loss, on $1.45 billion in revenue. Analysts expect full-year EPS of $0.44.
• Insider activity was mixed but heavily weighted toward selling: insiders bought $1.54 million of shares and sold $45.39 million over the past 90 days. The company also authorized a $500 million share-repurchase plan, covering up to 12.4% of outstanding shares.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) has been assigned an average rating of "Hold" from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.78.

EQPT has been the topic of a number of research reports. Citizens Jmp reissued a "market outperform" rating and issued a $42.00 price objective on shares of EquipmentShare.com in a research note on Monday, June 22nd. Citigroup lifted their target price on shares of EquipmentShare.com from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. UBS Group reduced their price target on shares of EquipmentShare.com from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Thursday, August 20th. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a research report on Monday, June 29th. They issued a "neutral" rating and a $22.00 price target on the stock. Finally, Weiss Ratings cut shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday.

Insider Buying and Selling at EquipmentShare.com

In related news, insider William J. Schlacks purchased 2,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was bought at an average cost of $18.64 per share, with a total value of $37,280.00. Following the completion of the acquisition, the insider directly owned 60,950 shares in the company, valued at $1,136,108. The trade was a 3.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Neil Chheda sold 1,285,402 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total value 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 represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 85,950 shares of company stock worth $1,537,422 and have sold 2,201,032 shares worth $45,393,501. 32.81% of the stock is owned by insiders.

Institutional Trading of EquipmentShare.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System purchased a new position in EquipmentShare.com in the 2nd quarter valued at about $205,000. Chico Wealth RIA purchased a new stake in shares of EquipmentShare.com during the second quarter worth about $322,000. Bank of New York Mellon Corp purchased a new stake in shares of EquipmentShare.com during the second quarter worth about $326,000. Engineers Gate Manager LP acquired a new position in shares of EquipmentShare.com in the second quarter valued at approximately $679,000. Finally, Waverly Advisors LLC acquired a new position in shares of EquipmentShare.com in the second quarter valued at approximately $2,387,000.

EquipmentShare.com Stock Performance

NASDAQ EQPT opened at $18.50 on Wednesday. The business has a 50 day moving average price of $18.80 and a 200 day moving average price of $20.24. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91. The company has a market capitalization of $4.69 billion and a P/E ratio of 59.68. EquipmentShare.com has a 1-year low of $15.71 and a 1-year high of $35.50.

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

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

EquipmentShare.com Company Profile

EquipmentShare.com is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to construction equipment, including aerial lifts, earthmoving machinery, material-handling equipment, generators and other jobsite assets, through a network of locations across the United States.

Its business combines equipment rental and sales with maintenance, repair and related support services. EquipmentShare also offers technology intended to help contractors manage fleets and jobsites.

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