EquipmentShare.com Inc's Lock-Up Period Will Expire on July 22nd (NASDAQ:EQPT)

Key Points

• EquipmentShare.com’s lock-up period expires July 22, allowing insiders and major shareholders to sell shares after the company’s January IPO of 30.5 million shares.
• Wall Street sentiment is mixed but generally cautious: analysts’ average rating is Hold with an average price target of $36.33, though several firms recently lowered their targets.
• The company reported strong quarterly revenue growth of 38.1% year over year and also authorized a $500 million share buyback, while insiders have recently been buying stock.

EquipmentShare.com's (NASDAQ:EQPT - Get Free Report) lock-up period is set to expire on Wednesday, July 22nd. EquipmentShare.com had issued 30,500,000 shares in its IPO on January 23rd. The total size of the offering was $747,250,000 based on an initial share price of $24.50. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Several research firms recently commented on EQPT. Truist Financial reduced their price target on shares of EquipmentShare.com from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, July 2nd. Wells Fargo & Company lowered their price objective on shares of EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday. Robert W. Baird dropped their price objective on shares of EquipmentShare.com from $63.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Weiss Ratings cut shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 20th. Finally, 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. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.33.

EquipmentShare.com Trading Up 3.0%

NASDAQ:EQPT opened at $17.34 on Wednesday. The firm has a market capitalization of $4.38 billion and a price-to-earnings ratio of 133.38. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47. The company has a 50 day moving average of $21.03. EquipmentShare.com has a 12-month low of $15.95 and a 12-month high of $35.50.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share 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 quarterly revenue was up 38.1% compared to the same quarter last year. Research analysts forecast that EquipmentShare.com will post 0.46 EPS for the current fiscal year.

EquipmentShare.com declared that its Board of Directors has approved a share buyback program on Friday, July 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 12.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other EquipmentShare.com news, CEO Jabbok Schlacks purchased 50,000 shares of EquipmentShare.com stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares of the company's stock, valued at $1,056,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naveen Bhatia purchased 10,000 shares of the business's stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the director directly owned 312,000 shares in the company, valued at approximately $7,556,640. This represents a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 81,803 shares of company stock valued at $1,797,271 over the last ninety days.

About EquipmentShare.com

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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