EquipmentShare.com (NASDAQ:EQPT) Stock Price Down 8.6% – Here’s What Happened

EquipmentShare.com Inc (NASDAQ:EQPT)’s stock price dropped 8.6% during mid-day trading on Wednesday . The company traded as low as $18.14 and last traded at $18.2280. Approximately 1,696,203 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 1,796,600 shares. The stock had previously closed at $19.95.

Analyst Ratings Changes

EQPT has been the subject of a number of research analyst reports. UBS Group assumed coverage on EquipmentShare.com in a report on Tuesday, February 17th. They set a “neutral” rating and a $36.00 price target for the company. Citigroup boosted their price target on EquipmentShare.com from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Citizens Jmp assumed coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They issued a “market outperform” rating and a $42.00 price target for the company. Wells Fargo & Company cut their price target on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 13th. Finally, Wall Street Zen upgraded EquipmentShare.com from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, EquipmentShare.com presently has an average rating of “Hold” and an average price target of $40.25.

EquipmentShare.com Stock Performance

The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47. The business’s 50-day moving average is $21.33.

EquipmentShare.com (NASDAQ:EQPT) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.15. The firm had revenue of $989.00 million for the quarter. EquipmentShare.com’s quarterly revenue was up 38.1% compared to the same quarter last year. Equities research analysts anticipate that EquipmentShare.com Inc will post 0.55 EPS for the current year.

Insider Buying and Selling at EquipmentShare.com

In related news, Director W Bryan Hill purchased 21,803 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $22.89 per share, for a total transaction of $499,070.67. Following the completion of the acquisition, the director owned 35,794 shares of the company’s stock, valued at approximately $819,324.66. This represents a 155.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naveen Bhatia purchased 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $7,556,640. This represents a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing.

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.