EquipmentShare.com Inc’s Lock-Up Period Will End on July 22nd (NASDAQ:EQPT)

EquipmentShare.com’s (NASDAQ:EQPT) lock-up period will end on Wednesday, July 22nd. EquipmentShare.com had issued 30,500,000 shares in its public offering on January 23rd. The total size of the offering was $747,250,000 based on an initial share price of $24.50. After the end of EquipmentShare.com’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EQPT shares. BNP Paribas Exane initiated coverage on shares of EquipmentShare.com in a research report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price target on the stock. Truist Financial decreased their price objective on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Citigroup increased their price objective on EquipmentShare.com from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Citizens Jmp restated a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Finally, Wells Fargo & Company cut their target price on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Price Performance

NASDAQ EQPT opened at $16.61 on Friday. The business has a fifty day moving average price of $20.80. The company has a market cap of $4.19 billion and a price-to-earnings ratio of 127.77. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47. EquipmentShare.com has a 1 year low of $15.95 and a 1 year high of $35.50.

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

EquipmentShare.com announced that its board has approved a stock buyback plan on Friday, July 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other EquipmentShare.com news, Director Naveen Bhatia bought 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The stock was bought at an average cost 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 in the company, valued at approximately $7,556,640. The trade was a 3.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jabbok Schlacks bought 50,000 shares of EquipmentShare.com 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 owned 50,000 shares of the company’s stock, valued at $1,056,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 81,803 shares of company stock valued at $1,797,271 in the last 90 days.

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.