EquipmentShare.com (NASDAQ:EQPT) Director W Bryan Hill Purchases 40,000 Shares of Company Stock

EquipmentShare.com Inc (NASDAQ:EQPT) Director W Hill purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were purchased at an average price of $13.85 per share, for a total transaction of $554,000.00. Following the completion of the purchase, the director directly owned 82,451 shares of the company’s stock, valued at approximately $1,141,946.35. This trade represents a 94.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

EquipmentShare.com Trading Down 3.5%

EquipmentShare.com stock opened at $15.43 on Friday. The business has a 50 day moving average price of $16.80 and a two-hundred day moving average price of $20.92. The company has a quick ratio of 1.91, a current ratio of 2.45 and a debt-to-equity ratio of 3.56. The stock has a market cap of $3.91 billion and a price-to-earnings ratio of 34.02. EquipmentShare.com Inc has a 12 month low of $12.41 and a 12 month high of $35.50.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. EquipmentShare.com had a return on equity of 15.10% and a net margin of 1.37%. The company had revenue of $1.47 billion during the quarter. As a group, equities analysts forecast that EquipmentShare.com Inc will post 0.49 EPS for the current year.

EquipmentShare.com declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 22nd that permits the company to repurchase $500 million in shares. This repurchase authorization permits the company to purchase up to 11.3% of its shares through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On EquipmentShare.com

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its position in shares of EquipmentShare.com by 23,621.2% during the 3rd quarter. Parallel Advisors LLC now owns 7,828 shares of the company’s stock worth $136,000 after buying an additional 7,795 shares during the period. State of Alaska Department of Revenue acquired a new stake in EquipmentShare.com in the 3rd quarter valued at $157,000. Arizona State Retirement System acquired a new stake in EquipmentShare.com in the 2nd quarter valued at $205,000. Fulcrum Asset Management LLP bought a new stake in EquipmentShare.com in the third quarter valued at $247,000. Finally, Chico Wealth RIA bought a new stake in EquipmentShare.com in the second quarter valued at $322,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQPT. Truist Financial reduced their target price on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Citigroup dropped their price objective on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. UBS Group reduced their price objective on shares of EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Robert W. Baird reduced their price objective on shares of EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, October 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.78.

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.