EquipmentShare.com (NASDAQ:EQPT) Stock Price Down 6.4% - Time to Sell?

Key Points

• EquipmentShare.com shares fell 6.4% to about $17.69, with trading volume roughly 98% below the average session volume.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating and an average price target of $34.33, despite recent target cuts from Truist and Wells Fargo.
• The company reported quarterly EPS of $0.18, beating estimates, and authorized a $500 million share-repurchase program; however, insider selling significantly exceeded insider buying over the past 90 days.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) traded down 6.4% during mid-day trading on Wednesday. The company traded as low as $18.17 and last traded at $17.6920. Approximately 52,682 shares were traded during trading, a decline of 98% from the average session volume of 2,378,943 shares. The stock had previously closed at $18.90.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EQPT. Truist Financial lowered their price target on EquipmentShare.com from $35.00 to $31.00 and set a "buy" rating for the company in a report on Monday. Weiss Ratings downgraded shares of EquipmentShare.com from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Citizens Jmp reiterated a "market outperform" rating and set a $42.00 price target on shares of EquipmentShare.com in a research note on Monday, June 22nd. BNP Paribas Exane started coverage on EquipmentShare.com in a research note on Monday, June 29th. They issued a "neutral" rating and a $22.00 price objective for the company. Finally, Wells Fargo & Company dropped 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 note on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $34.33.

EquipmentShare.com Stock Down 5.8%

The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42. The firm has a market capitalization of $4.51 billion and a price-to-earnings ratio of 57.39. The firm has a fifty day moving average price of $18.73 and a 200 day moving average price of $20.00.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.28. The business had revenue of $1.45 billion for the quarter. As a group, sell-side analysts expect that EquipmentShare.com Inc will post 0.44 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, CEO Jabbok Schlacks bought 22,900 shares of the stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the transaction, the chief executive officer owned 125,000 shares of the company's stock, valued at $2,220,000. This represents a 22.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Neil Chheda sold 1,285,402 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.62, for a total transaction of $26,504,989.24. Following the completion of the transaction, the insider directly owned 40,476,688 shares of the company's stock, valued at approximately $834,629,306.56. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 85,950 shares of company stock valued at $1,537,422 and have sold 2,201,032 shares valued at $45,393,501. 32.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of EquipmentShare.com in the 2nd quarter worth about $168,226,000. Waverly Advisors LLC purchased a new stake in shares of EquipmentShare.com in the second quarter valued at about $2,387,000. Engineers Gate Manager LP acquired a new stake in shares of EquipmentShare.com in the second quarter valued at approximately $679,000. Bank of New York Mellon Corp acquired a new stake in shares of EquipmentShare.com in the second quarter valued at approximately $326,000. Finally, Chico Wealth RIA purchased a new position in shares of EquipmentShare.com during the 2nd quarter worth approximately $322,000.

EquipmentShare.com Company Profile

EquipmentShare is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to a broad range of heavy equipment, including earthmoving, aerial, material-handling and general construction machinery, along with related parts, maintenance and support services.

Its technology platform, known as T3, is designed to help contractors and equipment owners monitor fleets, track equipment location and utilization, manage maintenance, and coordinate assets, teams and projects.

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