EQPT (NASDAQ:EQPT) Trading 6.9% Higher - Here's Why

Key Points

• EQPT shares jumped 6.9% intraday to $23.77 (high $23.89) on Tuesday, with about 718,540 shares traded—roughly 51% below its average daily volume.
• The company beat quarterly expectations, reporting EPS of $0.24 versus $0.19 expected and revenue of $1.57 billion versus $1.54 billion expected.
• Analyst coverage is mixed—six Buys, four Holds and one Sell—giving EQPT an average rating of "Hold" and a consensus target price of $38.88, with notable targets like Goldman Sachs at $51 and Oppenheimer at $39.

EQPT (NASDAQ:EQPT - Get Free Report) shares rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $23.89 and last traded at $23.7650. Approximately 718,540 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,478,141 shares. The stock had previously closed at $22.23.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research upgraded EQPT to a "hold" rating in a research note on Wednesday, February 18th. The Goldman Sachs Group assumed coverage on EQPT in a research note on Tuesday, February 17th. They issued a "buy" rating and a $51.00 target price on the stock. Wall Street Zen upgraded EQPT from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Oppenheimer started coverage on EQPT in a report on Tuesday, February 17th. They issued an "outperform" rating and a $39.00 price objective for the company. Finally, KeyCorp started coverage on EQPT in a report on Tuesday, February 17th. They set a "sector weight" rating for the company. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, EQPT has an average rating of "Hold" and a consensus target price of $38.88.

EQPT Stock Up 7.4%

The company has a 50-day moving average of $25.53.

EQPT (NASDAQ:EQPT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. As a group, equities analysts anticipate that EQPT will post 0.45 earnings per share for the current year.

About EQPT

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.