Citigroup Issues Positive Forecast for EquipmentShare.com (NASDAQ:EQPT) Stock Price

EquipmentShare.com (NASDAQ:EQPT) had its target price raised by Citigroup from $18.00 to $19.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on EQPT. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Truist Financial lowered their price target on EquipmentShare.com from $41.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. 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 objective for the company. Wells Fargo & Company reduced their price objective on shares of EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a research report on Monday, June 22nd. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.33.

EquipmentShare.com Trading Up 3.0%

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

EquipmentShare.com (NASDAQ:EQPT) last posted its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share 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 company’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, analysts forecast that EquipmentShare.com will post 0.46 EPS for the current year.

EquipmentShare.com announced that its Board of Directors has authorized a share buyback plan on Friday, July 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 12.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at EquipmentShare.com

In other news, CEO Jabbok Schlacks bought 50,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost 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 of the company’s stock, valued at $1,056,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director W Bryan Hill bought 21,803 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $22.89 per share, with a total value of $499,070.67. Following the completion of the transaction, the director owned 35,794 shares in the company, valued at $819,324.66. This represents a 155.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 81,803 shares of company stock worth $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.