Insider Buying: EquipmentShare.com (NASDAQ:EQPT) Director Buys $554,000.00 in Stock

EquipmentShare.com Inc (NASDAQ:EQPT) Director W Hill bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $554,000.00. Following the completion of the purchase, the director owned 82,451 shares of the company’s stock, valued at $1,141,946.35. This represents a 94.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

EquipmentShare.com Stock Down 3.5%

NASDAQ:EQPT traded down $0.56 during trading hours on Thursday, reaching $15.43. The company had a trading volume of 3,097,648 shares, compared to its average volume of 2,587,905. The company has a quick ratio of 1.91, a current ratio of 2.42 and a debt-to-equity ratio of 3.16. The firm has a market cap of $3.91 billion and a price-to-earnings ratio of 118.70. The business’s 50-day simple moving average is $16.80 and its two-hundred day simple moving average is $20.92. EquipmentShare.com Inc has a twelve month low of $12.41 and a twelve month high of $35.50.

EquipmentShare.com (NASDAQ:EQPT) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.14. EquipmentShare.com had a net margin of 1.37% and a return on equity of 16.97%. The firm had revenue of $1.47 billion during the quarter. On average, equities analysts expect that EquipmentShare.com Inc will post 0.45 earnings per share for the current year.

EquipmentShare.com announced that its Board of Directors has approved a stock buyback plan on Wednesday, July 22nd that permits the company to repurchase $500 million in shares. This repurchase authorization permits the company to reacquire up to 11.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EQPT. Parallel Advisors LLC increased its position in shares of EquipmentShare.com by 23,621.2% during the third quarter. Parallel Advisors LLC now owns 7,828 shares of the company’s stock worth $136,000 after acquiring an additional 7,795 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of EquipmentShare.com in the 3rd quarter worth about $157,000. Arizona State Retirement System acquired a new stake in shares of EquipmentShare.com in the 2nd quarter worth about $205,000. Fulcrum Asset Management LLP bought a new position in EquipmentShare.com in the 3rd quarter valued at about $247,000. Finally, Brighton Jones LLC bought a new position in EquipmentShare.com in the 3rd quarter valued at about $304,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup decreased their target price on EquipmentShare.com from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. Truist Financial cut their price target on EquipmentShare.com from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, October 5th. UBS Group reduced their price objective on EquipmentShare.com from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Weiss Ratings downgraded EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Finally, Wells Fargo & Company decreased their price objective on EquipmentShare.com from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.78.

About EquipmentShare.com

EquipmentShare.com is a construction equipment rental and technology company serving contractors and other customers in the United States. Its offerings include heavy equipment, tools, aerial equipment and other machinery, along with equipment sales, parts and maintenance services. The company also provides T3, a technology platform designed to help customers manage equipment, track assets and coordinate construction operations. By combining rentals with fleet and jobsite management tools, EquipmentShare aims to support customers’ equipment needs both on and off the jobsite.