EquipmentShare.com Inc’s Lock-Up Period Will Expire on July 22nd (NASDAQ:EQPT)

EquipmentShare.com’s (NASDAQ:EQPT) lock-up period is set to expire on Wednesday, July 22nd. EquipmentShare.com had issued 30,500,000 shares in its initial public offering on January 23rd. The total size of the offering was $747,250,000 based on an initial share price of $24.50. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of EquipmentShare.com in a report on Monday, June 22nd. Robert W. Baird lowered their target price on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Truist Financial cut their price target on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Finally, Citigroup boosted their price objective 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 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 stock. Based on data from MarketBeat.com, EquipmentShare.com has a consensus rating of “Hold” and a consensus target price of $36.33.

EquipmentShare.com Price Performance

Shares of EQPT opened at $17.34 on Wednesday. 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 has a 1-year low of $15.95 and a 1-year high of $35.50. The stock has a market cap of $4.38 billion and a PE ratio of 133.38. The stock’s 50 day simple moving average is $21.03.

EquipmentShare.com (NASDAQ:EQPT) last posted its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. On average, equities analysts expect that EquipmentShare.com will post 0.46 earnings per share for the current fiscal year.

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

Insider Transactions at EquipmentShare.com

In related news, Director Naveen Bhatia acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $24.22 per share, with a total value of $242,200.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jabbok Schlacks acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $21.12 per share, with a total value of $1,056,000.00. Following the transaction, the chief executive officer owned 50,000 shares in the company, valued at $1,056,000. This 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.

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.