EquipmentShare.com (NASDAQ:EQPT) Stock Price Down 5.7% – Here’s What Happened

EquipmentShare.com Inc (NASDAQ:EQPT)’s stock price dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $21.22 and last traded at $21.0340. 584,304 shares changed hands during trading, a decline of 68% from the average session volume of 1,836,835 shares. The stock had previously closed at $22.30.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQPT. Wells Fargo & Company decreased their price target on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Citigroup raised their price objective on EquipmentShare.com from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Wall Street Zen raised shares of EquipmentShare.com from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Truist Financial reiterated a “buy” rating and issued a $41.00 target price (up from $34.00) on shares of EquipmentShare.com in a research note on Friday, May 15th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 target price on shares of EquipmentShare.com in a report on Monday, June 22nd. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

EquipmentShare.com Stock Performance

The firm has a 50 day moving average of $21.87. The firm has a market cap of $5.17 billion and a PE ratio of 157.54. 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 (NASDAQ:EQPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. The business 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. As a group, research analysts anticipate that EquipmentShare.com Inc will post 0.54 earnings per share for the current year.

Insider Buying and Selling at EquipmentShare.com

In other EquipmentShare.com news, Director W Bryan Hill bought 21,803 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 35,794 shares in the company, valued at $819,324.66. This trade represents a 155.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Naveen Bhatia bought 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $24.22 per share, for a total transaction 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. This trade represents a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 81,803 shares of company stock worth $1,797,271 in the last quarter.

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.