EquipmentShare.com (NASDAQ:EQPT) Stock Price Expected to Rise, Citigroup Analyst Says

EquipmentShare.com (NASDAQ:EQPT) had its target price upped by stock analysts at Citigroup from $18.00 to $19.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 10.61% from the company’s previous close.

EQPT has been the subject of a number of other research reports. Weiss Ratings lowered EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Wells Fargo & Company cut their price objective on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 price target on shares of EquipmentShare.com in a research note on Monday, June 22nd. Robert W. Baird reduced their target price on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Truist Financial dropped their price objective on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Six 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 has a consensus rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Stock Up 2.1%

Shares of EQPT traded up $0.35 during trading hours on Tuesday, reaching $17.18. 1,546,448 shares of the company traded hands, compared to its average volume of 1,999,391. The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 2.71. The stock has a fifty day simple moving average of $21.07. EquipmentShare.com has a 12-month low of $15.95 and a 12-month high of $35.50. The company has a market capitalization of $4.34 billion and a PE ratio of 131.85.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The firm had revenue of $989.00 million for the quarter. The firm’s revenue was up 38.1% on a year-over-year basis. As a group, research analysts predict that EquipmentShare.com will post 0.46 EPS for the current fiscal year.

EquipmentShare.com announced that its Board of Directors has authorized a share repurchase plan on Friday, July 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 12.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at EquipmentShare.com

In other EquipmentShare.com news, Director W Bryan Hill acquired 21,803 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired 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 in the company, valued at $819,324.66. This trade represents 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, CEO Jabbok Schlacks acquired 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $21.12 per share, for a total transaction of $1,056,000.00. Following the transaction, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at approximately $1,056,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 81,803 shares of company stock worth $1,797,271.

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.