EquipmentShare.com (NASDAQ:EQPT) Reaches New 1-Year Low – Should You Sell?

EquipmentShare.com Inc (NASDAQ:EQPT) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $15.32 and last traded at $14.6620, with a volume of 4002319 shares traded. The stock had previously closed at $17.68.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EQPT shares. Wells Fargo & Company decreased their price objective on shares of EquipmentShare.com from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. UBS Group reduced 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. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price target on shares of EquipmentShare.com in a research report on Monday, June 22nd. Truist Financial cut their price objective on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday. Finally, Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Six investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $34.33.

EquipmentShare.com Trading Down 16.7%

The business’s 50-day moving average price is $18.73 and its two-hundred day moving average price is $19.96. The company has a market capitalization of $3.73 billion and a price-to-earnings ratio of 47.49. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.42 and a quick ratio of 1.91.

EquipmentShare.com (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.28. The company had revenue of $1.45 billion during the quarter. Research analysts predict that EquipmentShare.com Inc will post 0.44 earnings per share for the current year.

EquipmentShare.com declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at EquipmentShare.com

In other EquipmentShare.com news, CEO Jabbok Schlacks bought 22,900 shares of EquipmentShare.com stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $17.76 per share, with a total value of $406,704.00. Following the acquisition, the chief executive officer owned 125,000 shares in the company, valued at $2,220,000. This trade represents a 22.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Neil Chheda sold 1,285,402 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.62, for a total value of $26,504,989.24. Following the transaction, the insider directly owned 40,476,688 shares of the company’s stock, valued at $834,629,306.56. This trade represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 85,950 shares of company stock valued at $1,537,422 and sold 2,201,032 shares valued at $45,393,501. 32.81% of the stock is currently owned by insiders.

Institutional Trading of EquipmentShare.com

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new position in EquipmentShare.com during the second quarter worth about $679,000. Arizona State Retirement System bought a new stake in shares of EquipmentShare.com during the 2nd quarter valued at approximately $205,000. Waverly Advisors LLC acquired a new position in EquipmentShare.com during the 2nd quarter worth approximately $2,387,000. Chico Wealth RIA acquired a new position in EquipmentShare.com during the 2nd quarter worth approximately $322,000. Finally, Wellington Management Group LLP bought a new position in EquipmentShare.com in the 2nd quarter valued at approximately $168,226,000.

About EquipmentShare.com

EquipmentShare is a technology-enabled equipment rental and services company serving the construction and industrial sectors. The company provides access to a broad range of heavy equipment, including earthmoving, aerial, material-handling and general construction machinery, along with related parts, maintenance and support services.

Its technology platform, known as T3, is designed to help contractors and equipment owners monitor fleets, track equipment location and utilization, manage maintenance, and coordinate assets, teams and projects.