EquipmentShare.com (NASDAQ:EQPT) Shares Gap Up – Still a Buy?

EquipmentShare.com Inc (NASDAQ:EQPT)’s share price gapped up prior to trading on Monday. The stock had previously closed at $13.59, but opened at $14.73. EquipmentShare.com shares last traded at $14.5170, with a volume of 738,845 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EQPT shares. UBS Group dropped their price target on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Citigroup reduced their target price on shares of EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday. Robert W. Baird decreased their price target on shares of EquipmentShare.com from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday. Truist Financial decreased 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 note on Monday, October 5th. Finally, Weiss Ratings lowered shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.67.

EquipmentShare.com Price Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91. The firm has a 50 day moving average of $17.81 and a 200-day moving average of $19.59.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion for the quarter. As a group, analysts predict that EquipmentShare.com Inc will post 0.45 earnings per share for the current year.

EquipmentShare.com announced that its board has authorized a share repurchase plan on Friday, July 10th that authorizes the company to repurchase $500.00 million in shares. This buyback authorization authorizes the company to buy up to 12.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at EquipmentShare.com

In related news, insider William J. Schlacks purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $18.64 per share, for a total transaction of $37,280.00. Following the completion of the transaction, the insider owned 60,950 shares of the company’s stock, valued at approximately $1,136,108. This trade represents a 3.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jabbok Schlacks purchased 22,900 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average cost of $17.76 per share, with a total value of $406,704.00. Following the purchase, the chief executive officer owned 125,000 shares of the company’s stock, valued at $2,220,000. This represents a 22.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 85,950 shares of company stock valued at $1,537,422 and have sold 2,201,032 shares valued at $45,393,501. 32.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EquipmentShare.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in EquipmentShare.com during the second quarter worth about $168,226,000. Waverly Advisors LLC bought a new position in EquipmentShare.com in the 2nd quarter valued at about $2,387,000. Engineers Gate Manager LP bought a new position in EquipmentShare.com in the 2nd quarter valued at about $679,000. State of Alaska Department of Revenue acquired a new position in shares of EquipmentShare.com in the 3rd quarter valued at approximately $157,000. Finally, BigSur Wealth Management LLC acquired a new position in shares of EquipmentShare.com in the 3rd quarter valued at approximately $434,000.

EquipmentShare.com Company Profile

EquipmentShare is a construction equipment rental and technology company that combines equipment, digital tools and services for contractors and other businesses. Its operations include the rental of construction equipment, equipment sales, maintenance and repair, transportation, and related support services.

The company’s technology platform, including its T3 telematics and fleet-management tools, is designed to help customers monitor equipment location, utilization, maintenance needs and operating conditions.