EquipmentShare.com (NASDAQ:EQPT) Shares Gap Up After Insider Buying Activity

Key Points

• Insider purchases preceded a jump in EQPT shares: Director W. Hill bought 40,000 shares for about $554,000, while CEO Jabbok Schlacks bought 16,212 shares for about $250,000. The stock opened at $16.41, up from its prior close of $15.43.
• Analyst opinions remain mixed: six rate the stock Buy, five Hold, and one Sell; MarketBeat reports a consensus rating of Hold and an average price target of $29.78. Several firms recently lowered their price targets.
• EquipmentShare.com reported quarterly EPS of $0.16, beating the $0.02 consensus, on revenue of $1.47 billion. The company also has authorization to repurchase up to $500 million of shares.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report)'s stock price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $15.43, but opened at $16.41. EquipmentShare.com shares last traded at $15.9720, with a volume of 214,115 shares traded.

Specifically, Director W Hill bought 40,000 shares of EquipmentShare.com stock in a transaction dated Wednesday, November 11th. The stock was acquired at an average cost of $13.85 per share, for a total transaction of $554,000.00. Following the completion of the transaction, the director directly owned 82,451 shares of the company's stock, valued at approximately $1,141,946.35. This represents a 94.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jabbok Schlacks purchased 16,212 shares of the firm's stock in a transaction dated Wednesday, November 11th. The stock was acquired at an average cost of $15.42 per share, for a total transaction of $249,989.04. Following the completion of the purchase, the chief executive officer owned 141,212 shares of the company's stock, valued at approximately $2,177,489.04. This represents a 12.97% increase in their position. The SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of EquipmentShare.com from $19.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday. Truist Financial reduced their target price on shares of EquipmentShare.com from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Robert W. Baird decreased their target price on shares of EquipmentShare.com from $35.00 to $28.00 and set an "outperform" rating on the stock in a report on Tuesday, October 20th. Weiss Ratings lowered shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. Finally, UBS Group dropped their price target on shares of EquipmentShare.com from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $29.78.

EquipmentShare.com Stock Performance

The firm's 50 day moving average is $16.80 and its two-hundred day moving average is $20.92. The stock has a market capitalization of $3.92 billion and a PE ratio of 119.52. The company has a debt-to-equity ratio of 3.56, a quick ratio of 1.91 and a current ratio of 2.45.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last released its earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. EquipmentShare.com had a net margin of 1.37% and a return on equity of 15.10%. The company had revenue of $1.47 billion for the quarter. As a group, research analysts predict that EquipmentShare.com Inc will post 0.49 earnings per share for the current year.

EquipmentShare.com announced that its board has authorized a share repurchase program on Wednesday, July 22nd that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.3% of its shares through open market purchases. Share buyback programs are often a sign that the company's management believes its shares are undervalued.

Institutional Trading of EquipmentShare.com

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in EquipmentShare.com by 23,621.2% in the third quarter. Parallel Advisors LLC now owns 7,828 shares of the company's stock valued at $136,000 after purchasing an additional 7,795 shares during the period. State of Alaska Department of Revenue purchased a new stake in EquipmentShare.com during the 3rd quarter worth about $157,000. Arizona State Retirement System purchased a new stake in EquipmentShare.com during the 2nd quarter worth about $205,000. Fulcrum Asset Management LLP acquired a new stake in EquipmentShare.com in the 3rd quarter valued at about $247,000. Finally, Brighton Jones LLC acquired a new stake in EquipmentShare.com in the 3rd quarter valued at about $304,000.

About EquipmentShare.com

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services. The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers' equipment needs both on and off the jobsite.

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