EquipmentShare.com (NASDAQ:EQPT) Hits New 52-Week Low - Time to Sell?

Key Points

• EquipmentShare.com (NASDAQ: EQPT) hit a new 52-week low, trading as low as $15.71 and last near $15.73, well below its recent close of $16.06.
• Analyst sentiment is mixed but cautious: the stock’s consensus rating is Hold with a consensus price target of $36.33, though some firms recently cut targets while others maintained buy/overweight views.
• The company posted strong revenue growth in its latest quarter, with 38.1% year-over-year revenue growth to $989 million, and its board authorized a $500 million stock buyback covering up to 12.4% of shares outstanding.

Shares of EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $15.71 and last traded at $15.7260, with a volume of 279150 shares changing hands. The stock had previously closed at $16.06.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EQPT shares. Citigroup lifted their price target on EquipmentShare.com from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Wells Fargo & Company dropped their price objective on EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings cut shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 20th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $42.00 target price on shares of EquipmentShare.com in a research note on Monday, June 22nd. Finally, Truist Financial decreased their target price 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. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.33.

EquipmentShare.com Stock Performance

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 business's 50-day simple moving average is $20.65. The company has a market capitalization of $4.11 billion and a price-to-earnings ratio of 125.19.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last issued its quarterly earnings data 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 during the quarter. EquipmentShare.com's revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, analysts predict that EquipmentShare.com Inc will post 0.46 earnings per share for the current fiscal year.

EquipmentShare.com declared that its Board of Directors has initiated a stock repurchase plan on Friday, July 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Naveen Bhatia acquired 10,000 shares of the business's stock in a transaction on 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 transaction, the director owned 312,000 shares in the company, valued at $7,556,640. The trade was a 3.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jabbok Schlacks bought 50,000 shares of EquipmentShare.com stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $21.12 per share, for a total transaction of $1,056,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,056,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 81,803 shares of company stock valued at $1,797,271 over the last three months. Corporate insiders own 32.81% of the company's stock.

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.

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.