Wells Fargo & Company Cuts EquipmentShare.com (NASDAQ:EQPT) Price Target to $25.00

by · The Markets Daily

EquipmentShare.com (NASDAQ:EQPT – Get Free Report) had its target price cut by equities research analysts at Wells Fargo & Company from $32.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 48.54% from the stock’s current price.

Several other equities research analysts have also commented on EQPT. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price target on shares of EquipmentShare.com in a research note on Monday, June 22nd. Robert W. Baird reduced their target price on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Citigroup cut their price objective on shares of EquipmentShare.com from $26.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. BNP Paribas Exane began coverage on EquipmentShare.com in a research note on Monday, June 29th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, Weiss Ratings downgraded shares of EquipmentShare.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. 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 company. According to MarketBeat, EquipmentShare.com presently has an average rating of “Hold” and an average price target of $36.44.

View Our Latest Stock Report on EQPT

EquipmentShare.com Stock Down 9.8%

Shares of NASDAQ EQPT opened at $16.83 on Tuesday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.47 and a quick ratio of 1.90. EquipmentShare.com has a 52 week low of $15.95 and a 52 week high of $35.50. The company has a 50-day moving average of $21.07. The firm has a market capitalization of $4.25 billion and a PE ratio of 129.46.

EquipmentShare.com (NASDAQ:EQPT – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $989.00 million for the quarter. The company’s quarterly revenue was up 38.1% on a year-over-year basis. Equities research analysts expect that EquipmentShare.com will post 0.46 EPS for the current fiscal year.

EquipmentShare.com declared that its board has approved a share buyback program on Friday, July 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 12.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at EquipmentShare.com

In other news, Director W Bryan Hill acquired 21,803 shares of the stock in a transaction that occurred 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 acquisition, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jabbok Schlacks acquired 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $21.12 per share, for a total transaction of $1,056,000.00. Following the purchase, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $1,056,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 81,803 shares of company stock valued at $1,797,271 over the last three months.

About EquipmentShare.com

(Get Free Report)

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.

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