Truist Financial Cuts EquipmentShare.com (NASDAQ:EQPT) Price Target to $31.00

EquipmentShare.com (NASDAQ:EQPT) had its price objective cut by Truist Financial from $35.00 to $31.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Citigroup boosted their price objective on shares of EquipmentShare.com from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. BNP Paribas Exane assumed coverage on shares of EquipmentShare.com in a research report on Monday, June 29th. They set a “neutral” rating and a $22.00 price objective on the stock. UBS Group decreased their target price on shares of EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. 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. Finally, Citizens Jmp reissued a “market outperform” rating and set a $42.00 target price on shares of EquipmentShare.com in a research report on Monday, June 22nd. 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 company’s stock. According to data from MarketBeat.com, EquipmentShare.com currently has an average rating of “Hold” and an average price target of $34.33.

EquipmentShare.com Trading Down 6.5%

NASDAQ EQPT opened at $17.68 on Monday. The firm’s 50 day moving average price is $18.73 and its two-hundred day moving average price is $19.96. The stock has a market cap of $4.48 billion and a price-to-earnings ratio of 57.03. EquipmentShare.com has a twelve month low of $15.71 and a twelve month high of $35.50. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.91 and a current ratio of 2.42.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.28. The business had revenue of $1.45 billion for the quarter. Equities analysts anticipate that EquipmentShare.com will post 0.44 EPS for the current year.

EquipmentShare.com declared that its Board of Directors has approved a stock repurchase program on Friday, July 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EquipmentShare.com

In other EquipmentShare.com news, insider William Schlacks purchased 2,000 shares of the stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $18.64 per share, with a total value of $37,280.00. Following the completion of the transaction, the insider owned 60,950 shares in the company, valued at $1,136,108. This trade represents a 3.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jabbok Schlacks acquired 22,900 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $17.76 per share, for a total transaction of $406,704.00. Following the completion of the purchase, the chief executive officer directly owned 125,000 shares of the company’s stock, valued at $2,220,000. This trade represents a 22.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 85,950 shares of company stock worth $1,537,422 and sold 2,201,032 shares worth $45,393,501. Corporate insiders own 32.81% of the company’s stock.

Hedge Funds Weigh In On EquipmentShare.com

A number of institutional investors and hedge funds have recently bought and sold shares of EQPT. Arizona State Retirement System acquired a new stake in EquipmentShare.com in the 2nd quarter worth $205,000. Chico Wealth RIA bought a new position in EquipmentShare.com during the second quarter valued at about $322,000. Bank of New York Mellon Corp acquired a new position in EquipmentShare.com in the 2nd quarter valued at approximately $326,000. Engineers Gate Manager LP bought a new stake in shares of EquipmentShare.com in the 2nd quarter worth approximately $679,000. Finally, Waverly Advisors LLC acquired a new stake in shares of EquipmentShare.com during the 2nd quarter worth approximately $2,387,000.

EquipmentShare.com Company Profile

EquipmentShare is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to a broad range of heavy equipment, including earthmoving, aerial, material-handling and general construction machinery, along with related parts, maintenance and support services.

Its technology platform, known as T3, is designed to help contractors and equipment owners monitor fleets, track equipment location and utilization, manage maintenance, and coordinate assets, teams and projects.