EquipmentShare.com (NASDAQ:EQPT) Sees Large Volume Increase – Here’s Why

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) saw unusually-strong trading volume on Wednesday . 1,731,400 shares changed hands during trading, a decline of 16% from the previous session’s volume of 2,064,264 shares.The stock last traded at $17.2060 and had previously closed at $17.54.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EQPT shares. Weiss Ratings cut EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. BNP Paribas Exane began coverage on EquipmentShare.com in a research report on Monday, June 29th. They set a “neutral” rating and a $22.00 price target on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $42.00 price objective on shares of EquipmentShare.com in a report on Monday, June 22nd. Citigroup boosted their price objective on EquipmentShare.com from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company lowered their target price on EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Six research 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Stock Performance

The business has a fifty day moving average price of $20.51. The stock has a market cap of $4.35 billion and a PE ratio of 132.62. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47.

EquipmentShare.com (NASDAQ:EQPT) last released its quarterly earnings results 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 firm had revenue of $989.00 million during the quarter. The business’s quarterly revenue was up 38.1% on a year-over-year basis. On average, research analysts anticipate that EquipmentShare.com Inc will post 0.46 earnings per share for the current year.

EquipmentShare.com declared that its board has authorized a share repurchase program on Friday, July 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 12.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at EquipmentShare.com

In other EquipmentShare.com news, CEO Jabbok Schlacks acquired 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were bought 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 of the company’s stock, valued at approximately $1,056,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naveen Bhatia acquired 10,000 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $24.22 per share, for a total transaction of $242,200.00. Following the completion of the acquisition, the director directly owned 312,000 shares of the company’s stock, valued at $7,556,640. The trade was a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 81,803 shares of company stock valued at $1,797,271 in the last ninety days. 32.81% of the stock is currently owned by corporate insiders.

EquipmentShare.com 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.