EquipmentShare.com (NASDAQ:EQPT) Hits New 52-Week Low – Time to Sell?

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) hit a new 52-week low on Tuesday . The stock traded as low as $15.71 and last traded at $15.7260, with a volume of 279150 shares changing hands. The stock had previously closed at $16.06.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EQPT shares. Citigroup lifted their price target on EquipmentShare.com from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wells Fargo & Company dropped their price objective 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. Weiss Ratings cut shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a research note on Monday, June 22nd. Finally, Truist Financial decreased their target price on shares of EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Six equities 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.33.

EquipmentShare.com Stock Performance

The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 2.71. The business’s 50-day simple moving average is $20.65. The company has a market capitalization of $4.11 billion and a price-to-earnings ratio of 125.19.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. EquipmentShare.com’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, analysts predict that EquipmentShare.com Inc will post 0.46 earnings per share for the current fiscal year.

EquipmentShare.com declared that its Board of Directors has initiated a stock repurchase plan on Friday, July 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Naveen Bhatia acquired 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director owned 312,000 shares in the company, valued at $7,556,640. The trade was a 3.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jabbok Schlacks bought 50,000 shares of EquipmentShare.com stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $21.12 per share, for a total transaction of $1,056,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,056,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 81,803 shares of company stock valued at $1,797,271 over the last three months. Corporate insiders own 32.81% of the company’s stock.

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.