EquipmentShare.com (NASDAQ:EQPT) Shares Down 7.3% After Analyst Downgrade

EquipmentShare.com Inc (NASDAQ:EQPT) was down 7.3% on Wednesday after Citigroup lowered their price target on the stock from $26.00 to $20.00. Citigroup currently has a neutral rating on the stock. EquipmentShare.com traded as low as $16.65 and last traded at $16.6650. Approximately 1,225,706 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,918,865 shares. The stock had previously closed at $17.98.

Other analysts have also recently issued reports about the stock. Robert W. Baird lowered 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 note on Friday, March 20th. Wall Street Zen upgraded shares of EquipmentShare.com from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Wells Fargo & Company decreased their price target on shares of EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, April 13th. BNP Paribas Exane initiated coverage on shares of EquipmentShare.com in a research note on Monday, June 29th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Truist Financial dropped their price objective on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. 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 company. According to data from MarketBeat, EquipmentShare.com currently has an average rating of “Hold” and a consensus target price of $37.22.

Insider Buying and Selling

In other EquipmentShare.com news, Director Naveen Bhatia acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $24.22 per share, for a total transaction of $242,200.00. Following the purchase, the director owned 312,000 shares in the company, valued at approximately $7,556,640. The trade was a 3.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jabbok Schlacks acquired 50,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $21.12 per share, for a total transaction of $1,056,000.00. Following the completion of the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,056,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 81,803 shares of company stock worth $1,797,271.

EquipmentShare.com Trading Down 7.8%

The business has a 50-day moving average price of $21.44. The company has a market capitalization of $4.19 billion and a P/E ratio of 127.57. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. The firm’s revenue was up 38.1% on a year-over-year basis. Equities research analysts anticipate that EquipmentShare.com Inc will post 0.46 EPS for the current year.

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.