EquipmentShare.com (NASDAQ:EQPT) Stock Price Up 8.2% - Should You Buy?

Key Points

• EquipmentShare.com shares jumped 8.2% on Thursday, trading as high as $19.10 after closing at $17.34 the previous day, though trading volume was well below average.
• Analysts remain mixed: several firms recently adjusted price targets, and the stock currently carries a consensus Hold rating with an average price target of $36.33.
• The company reported strong quarterly revenue growth of 38.1% year over year and beat EPS estimates, and its board also approved a $500 million share buyback plan, signaling confidence in the stock.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) shot up 8.2% during trading on Thursday . The company traded as high as $19.10 and last traded at $18.76. 878,649 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 2,101,796 shares. The stock had previously closed at $17.34.

Analyst Ratings Changes

A number of research firms recently weighed in on EQPT. Citigroup boosted their price target on shares of EquipmentShare.com from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They issued a "neutral" rating and a $22.00 target price on the stock. Weiss Ratings lowered EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 20th. Wells Fargo & Company cut their price target on EquipmentShare.com from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Finally, Truist Financial reduced their price objective on EquipmentShare.com from $41.00 to $38.00 and set a "buy" rating on the stock in a research report 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.33.

EquipmentShare.com Price 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 stock has a market capitalization of $4.92 billion and a P/E ratio of 149.27. The stock has a 50 day moving average price of $20.34.

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

EquipmentShare.com announced that its board has approved 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 buy up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other EquipmentShare.com news, CEO Jabbok Schlacks acquired 50,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the transaction, the chief executive officer owned 50,000 shares of the company's stock, valued at $1,056,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Naveen Bhatia bought 10,000 shares of the firm's stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the transaction, the director directly owned 312,000 shares of the company's stock, valued at $7,556,640. The trade was a 3.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 81,803 shares of company stock valued at $1,797,271 in the last quarter. 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.

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