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

Key Points

• Analysts maintain a consensus “Hold” rating on EquipmentShare.com, with six buys, five holds and one sell among 12 covering firms. The average 12-month price target is $30.67, although several analysts recently reduced their targets.
• EQPT shares opened at $16.01, near the lower end of their $13.00–$35.50 12-month range, with a market capitalization of approximately $4.06 billion. The company recently exceeded quarterly EPS expectations, reporting $0.18 versus the consensus estimate of a $0.10 loss.
• EquipmentShare approved a $500 million share-repurchase program, covering up to 12.4% of outstanding shares. Insider activity was mixed: the CEO bought shares, while insiders collectively sold substantially more stock over the past 90 days.

Shares of EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) have received an average recommendation of "Hold" from the twelve brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.67.

Several equities analysts have recently issued reports on EQPT shares. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a report on Monday, June 29th. They set a "neutral" rating and a $22.00 price target for the company. Wells Fargo & Company lowered their price target on shares of EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Citigroup dropped their price objective on shares of EquipmentShare.com from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, October 20th. Weiss Ratings lowered shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th. Finally, Truist Financial cut their price target on EquipmentShare.com from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Monday, October 5th.

Insider Activity at EquipmentShare.com

In related news, CEO Jabbok Schlacks acquired 22,900 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the purchase, the chief executive officer directly owned 125,000 shares in the company, valued at $2,220,000. This trade represents a 22.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Neil Chheda sold 1,285,402 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was 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 directly owned 40,476,688 shares of the company's stock, valued at $834,629,306.56. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety 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. Company insiders own 32.81% of the company's stock.

Institutional Trading of EquipmentShare.com

A number of institutional investors have recently made changes to their positions in EQPT. Wellington Management Group LLP acquired a new stake in EquipmentShare.com in the second quarter worth approximately $168,226,000. Waverly Advisors LLC bought a new stake in shares of EquipmentShare.com in the 2nd quarter worth $2,387,000. Engineers Gate Manager LP acquired a new stake in shares of EquipmentShare.com in the second quarter valued at $679,000. Arizona State Retirement System acquired a new stake in shares of EquipmentShare.com in the second quarter valued at $205,000. Finally, BigSur Wealth Management LLC acquired a new stake in shares of EquipmentShare.com in the third quarter valued at $434,000.

EquipmentShare.com Trading Down 2.0%

NASDAQ:EQPT opened at $16.01 on Friday. EquipmentShare.com has a 12-month low of $13.00 and a 12-month high of $35.50. The firm has a market capitalization of $4.06 billion and a P/E ratio of 51.65. 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 business has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $19.52.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. Equities research analysts predict that EquipmentShare.com will post 0.45 EPS for the current year.

EquipmentShare.com declared that its Board of Directors has approved a share repurchase plan on Friday, July 10th that allows the company to buy back $500.00 million in shares. This buyback authorization allows the company to repurchase up to 12.4% of its shares through open market purchases. Share buyback plans are generally a sign that the company's management believes its stock is undervalued.

About EquipmentShare.com

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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