EQPT (NASDAQ:EQPT) Trading Down 6% – Here’s Why

EQPT (NASDAQ:EQPT)’s stock price traded down 6% during trading on Wednesday . The stock traded as low as $22.15 and last traded at $22.02. 735,937 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,485,896 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EQPT shares. Citizens Jmp started coverage on shares of EQPT in a report on Tuesday, February 17th. They issued a “market outperform” rating and a $42.00 price target on the stock. Zacks Research raised EQPT to a “hold” rating in a research note on Wednesday, February 18th. Wells Fargo & Company reduced their target price on EQPT from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 13th. KeyCorp assumed coverage on EQPT in a research note on Tuesday, February 17th. They issued a “sector weight” rating on the stock. Finally, UBS Group started coverage on EQPT in a report on Tuesday, February 17th. They issued a “neutral” rating and a $36.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.88.

EQPT Stock Down 6.3%

The business’s 50-day moving average price is $24.92.

EQPT (NASDAQ:EQPT) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Analysts forecast that EQPT will post 0.45 earnings per share for the current fiscal year.

EQPT Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.