Stock Traders Purchase High Volume of Call Options on EquipmentShare.com (NASDAQ:EQPT)

EquipmentShare.com Inc (NASDAQ:EQPT) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 39,099 call options on the stock. This represents an increase of approximately 4,348% compared to the typical volume of 879 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EQPT shares. BNP Paribas Exane began coverage on shares of EquipmentShare.com in a report on Monday, June 29th. They issued a “neutral” rating and a $22.00 target price on the stock. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Weiss Ratings cut EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Citigroup raised their price target on EquipmentShare.com from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird reduced their price objective on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Six research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.33.

Insiders Place Their Bets

In other EquipmentShare.com news, Director Naveen Bhatia purchased 10,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the director owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. This represents a 3.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jabbok Schlacks purchased 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the completion of 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. Over the last three months, insiders have acquired 81,803 shares of company stock valued at $1,797,271.

EquipmentShare.com Stock Performance

Shares of EquipmentShare.com stock traded up $0.45 during trading on Tuesday, hitting $17.28. 1,769,566 shares of the stock were exchanged, compared to its average volume of 2,010,386. The company has a current ratio of 2.47, a quick ratio of 1.90 and a debt-to-equity ratio of 2.71. EquipmentShare.com has a 12 month low of $15.95 and a 12 month high of $35.50. The company has a fifty day moving average of $21.07. The stock has a market cap of $4.36 billion and a PE ratio of 132.85.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The firm had revenue of $989.00 million during the quarter. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. Sell-side analysts anticipate that EquipmentShare.com will post 0.46 EPS for the current fiscal year.

EquipmentShare.com announced that its board has authorized a share buyback plan on Friday, July 10th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 12.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

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.