EquipmentShare.com Target of Unusually Large Options Trading (NASDAQ:EQPT)

EquipmentShare.com Inc (NASDAQ:EQPT) was the target of some unusual options trading activity on Tuesday. Investors acquired 39,099 call options on the company. This represents an increase of 4,348% compared to the average volume of 879 call options.

EquipmentShare.com Price Performance

EquipmentShare.com stock opened at $17.34 on Wednesday. The firm has a market cap of $4.38 billion and a PE ratio of 133.38. EquipmentShare.com has a 12-month low of $15.95 and a 12-month high of $35.50. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90. The business’s 50-day moving average price is $21.03.

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

EquipmentShare.com announced that its board has initiated a stock repurchase program on Friday, July 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EQPT shares. BNP Paribas Exane began coverage on shares of EquipmentShare.com in a research report on Monday, June 29th. They issued a “neutral” rating and a $22.00 price objective on the stock. Robert W. Baird cut their price objective on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Truist Financial reduced their target price on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Finally, Citigroup boosted their target price on shares of EquipmentShare.com from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.33.

Insider Transactions at EquipmentShare.com

In related news, CEO Jabbok Schlacks purchased 50,000 shares of EquipmentShare.com stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $21.12 per share, with a total value of $1,056,000.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Naveen Bhatia bought 10,000 shares of EquipmentShare.com stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $24.22 per share, with a total value of $242,200.00. Following the completion of the acquisition, the director directly owned 312,000 shares in the company, valued at approximately $7,556,640. The trade was a 3.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 81,803 shares of company stock valued at $1,797,271.

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.