EquipmentShare.com (NASDAQ:EQPT) Stock Gets Price Target Boost from Citigroup

EquipmentShare.com (NASDAQ:EQPT) had its price target lifted by equities researchers at Citigroup from $16.00 to $17.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup‘s price objective indicates a potential upside of 10.25% from the company’s previous close.

Several other analysts have also issued reports on EQPT. Truist Financial lowered their price target on shares of EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Wells Fargo & Company reduced 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. Robert W. Baird dropped their price objective on EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, October 20th. Weiss Ratings cut shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Finally, UBS Group decreased their target price on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.89.

EquipmentShare.com Stock Down 0.1%

NASDAQ:EQPT traded down $0.01 during trading hours on Friday, hitting $15.42. 2,271,846 shares of the company traded hands, compared to its average volume of 3,462,636. 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 company has a market cap of $3.91 billion and a PE ratio of 118.62. EquipmentShare.com has a one year low of $12.41 and a one year high of $35.50. The firm’s 50-day simple moving average is $16.75 and its 200-day simple moving average is $20.89.

EquipmentShare.com (NASDAQ:EQPT) last announced its earnings results on Monday, November 9th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $1.47 billion for the quarter. EquipmentShare.com had a return on equity of 15.10% and a net margin of 1.37%. Equities analysts predict that EquipmentShare.com will post 0.60 earnings per share for the current year.

EquipmentShare.com declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 22nd that permits the company to repurchase $500 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.3% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at EquipmentShare.com

In related news, Director W Hill purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average price of $13.85 per share, for a total transaction of $554,000.00. Following the purchase, the director directly owned 82,451 shares in the company, valued at $1,141,946.35. This trade represents a 94.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Schlacks bought 4,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average price of $19.56 per share, with a total value of $78,240.00. Following the completion of the transaction, the insider directly owned 58,950 shares in the company, valued at approximately $1,153,062. The trade was a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 140,312 shares of company stock worth $2,302,912 in the last three months. Insiders own 32.81% of the company’s stock.

Hedge Funds Weigh In On EquipmentShare.com

A number of hedge funds and other institutional investors have recently made changes to their positions in EQPT. Parallel Advisors LLC grew its position in shares of EquipmentShare.com by 23,621.2% in 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 last quarter. State of Alaska Department of Revenue purchased a new position in shares of EquipmentShare.com in the 3rd quarter valued at about $157,000. Arizona State Retirement System purchased a new stake in EquipmentShare.com in the 2nd quarter worth $205,000. Fulcrum Asset Management LLP purchased a new stake in EquipmentShare.com during the 3rd quarter worth approximately $247,000. Finally, Brighton Jones LLC acquired a new stake in EquipmentShare.com during the 3rd quarter worth $304,000.

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.