EquipmentShare.com Inc (NASDAQ:EQPT) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts hold a mixed view on EquipmentShare.com: Twelve firms collectively rate the stock “Hold,” with six buys, five holds, and one sell. Their average 12-month price target is $36.33, well above the reported $19.75 opening price.
• The company reported strong revenue growth and an earnings beat, posting quarterly revenue of $989 million, up 38.1% year over year, and an EPS loss of $0.11 versus the consensus estimate of a $0.26 loss.
• EquipmentShare.com authorized a $500 million share repurchase program, allowing it to buy back up to 12.4% of outstanding shares. Insiders have also purchased 81,803 shares worth roughly $1.8 million over the past 90 days.

Shares of EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) have earned an average rating of "Hold" from the twelve ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $36.3333.

Several brokerages have issued reports on EQPT. Truist Financial dropped their price objective on shares of EquipmentShare.com from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Citigroup raised their target price on shares of EquipmentShare.com from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. BNP Paribas Exane began coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They set a "neutral" rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th.

EquipmentShare.com Trading Down 3.5%

Shares of EQPT stock opened at $19.75 on Tuesday. The stock has a market cap of $4.98 billion and a P/E ratio of 151.92. The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 2.71. The company has a 50 day moving average of $19.72. EquipmentShare.com has a twelve month low of $15.71 and a twelve month high of $35.50.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.15. The company had revenue of $989.00 million for the quarter. EquipmentShare.com's revenue was up 38.1% on a year-over-year basis. As a group, equities analysts predict that EquipmentShare.com will post 0.46 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other EquipmentShare.com news, Director W Bryan Hill bought 21,803 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $22.89 per share, for a total transaction of $499,070.67. Following the transaction, the director owned 35,794 shares of the company's stock, valued at approximately $819,324.66. This trade represents a 155.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Naveen Bhatia bought 10,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the purchase, the director owned 312,000 shares in the company, valued at approximately $7,556,640. This represents a 3.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 81,803 shares of company stock worth $1,797,271. Company insiders own 32.81% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in EquipmentShare.com stock. Bank of New York Mellon Corp bought a new stake in EquipmentShare.com Inc (NASDAQ:EQPT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,605 shares of the company's stock, valued at approximately $326,000.

EquipmentShare.com Company Profile

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

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