EquipmentShare.com (NASDAQ:EQPT) Given New $20.00 Price Target at Citigroup

EquipmentShare.com (NASDAQ:EQPT) had its price target reduced by analysts at Citigroup from $26.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 18.66% from the stock’s previous close.

Several other analysts have also recently commented on EQPT. Truist Financial dropped their target price 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. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a report on Monday, June 29th. They set a “neutral” rating and a $22.00 price objective on the stock. Wall Street Zen raised EquipmentShare.com from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Robert W. Baird decreased their price objective on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, Weiss Ratings downgraded shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Six 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, EquipmentShare.com currently has a consensus rating of “Hold” and an average price target of $37.22.

EquipmentShare.com Stock Down 6.3%

EquipmentShare.com stock traded down $1.12 on Wednesday, hitting $16.86. The company’s stock had a trading volume of 848,940 shares, compared to its average volume of 1,916,104. EquipmentShare.com has a one year low of $16.74 and a one year high of $35.50. The company has a current ratio of 2.47, a quick ratio of 1.90 and a debt-to-equity ratio of 2.71. The stock has a market capitalization of $4.25 billion and a price-to-earnings ratio of 129.32. The firm has a fifty day simple moving average of $21.44.

EquipmentShare.com (NASDAQ:EQPT) last posted its 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 firm had revenue of $989.00 million during the quarter. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. Analysts anticipate that EquipmentShare.com will post 0.46 EPS for the current year.

Insider Activity

In other news, Director W Bryan Hill acquired 21,803 shares of EquipmentShare.com stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $22.89 per share, with a total value of $499,070.67. Following the completion of the purchase, the director owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. The trade was a 155.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naveen Bhatia acquired 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $24.22 per share, with a total value of $242,200.00. Following the completion of the acquisition, the director directly owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. The trade was a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 81,803 shares of company stock worth $1,797,271 in the last three months.

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.