EquipmentShare.com (NASDAQ:EQPT) Director Acquires 40,000 Shares of Company Stock

EquipmentShare.com Inc (NASDAQ:EQPT) Director W Hill acquired 40,000 shares of the stock in a transaction dated Wednesday, November 11th. The stock was bought at an average cost of $13.85 per share, with a total value of $554,000.00. Following the completion of the purchase, the director owned 82,451 shares of the company’s stock, valued at approximately $1,141,946.35. The trade was a 94.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

EquipmentShare.com Stock Down 3.5%

Shares of EQPT stock traded down $0.56 during trading hours on Thursday, reaching $15.43. The company had a trading volume of 3,097,648 shares, compared to its average volume of 2,587,905. The company has a market cap of $3.91 billion and a price-to-earnings ratio of 118.70. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91. EquipmentShare.com Inc has a 12 month low of $12.41 and a 12 month high of $35.50. The business has a fifty day simple moving average of $16.80 and a 200-day simple moving average of $20.92.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. EquipmentShare.com had a return on equity of 16.97% and a net margin of 1.37%. The business had revenue of $1.47 billion during the quarter. On average, research analysts expect that EquipmentShare.com Inc will post 0.45 earnings per share for the current fiscal year.

EquipmentShare.com declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 22nd that authorizes the company to buy back $500 million in shares. This buyback authorization authorizes the company to buy up to 11.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On EquipmentShare.com

Several large investors have recently made changes to their positions in EQPT. Wellington Management Group LLP bought a new stake in shares of EquipmentShare.com during the 2nd quarter worth $168,226,000. State Street Corp grew its position in EquipmentShare.com by 80.1% during the third quarter. State Street Corp now owns 702,243 shares of the company’s stock valued at $12,198,000 after buying an additional 312,313 shares during the period. Waverly Advisors LLC bought a new position in EquipmentShare.com during the second quarter valued at about $2,387,000. Canvas Wealth Advisors LLC increased its holdings in EquipmentShare.com by 22.9% during the third quarter. Canvas Wealth Advisors LLC now owns 117,256 shares of the company’s stock worth $2,132,000 after buying an additional 21,846 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in EquipmentShare.com by 318.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 83,049 shares of the company’s stock worth $1,443,000 after buying an additional 63,191 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial cut their price objective on shares of EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Citigroup lowered their target price on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Wells Fargo & Company dropped their price target on shares of EquipmentShare.com from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group cut their price target on shares of EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.78.

EquipmentShare.com Company Profile

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.