H&E Equipment Services, Inc. (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “H&E Equipment Services, Inc. is one of the largest integrated equipment services companies in the United States with full-service facilities throughout the Intermountain, Southwest, Gulf Coast & Southeast regions of the United States. The Company is focused on heavy construction & industrial equipment and rents, sells & provides parts & service support for four core categories of specialized equipment they are hi-lift or aerial platform equipment, cranes, earthmoving equipment & industrial lift trucks. By providing equipment rental, sales, & on-site parts, repair & maintenance functions under one roof, the Company is a one-stop provider for its customers’ varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal & provides cross-selling opportunities among its new & used equipment sales, rental, parts sales & service operations. “
Several other analysts have also recently issued reports on HEES. ValuEngine cut H&E Equipment Services from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub cut H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada restated a “buy” rating on shares of H&E Equipment Services in a report on Friday, July 28th. Bank of America Corporation started coverage on H&E Equipment Services in a report on Tuesday, September 26th. They set a “buy” rating and a $33.00 price target for the company. Finally, UBS AG restated a “sell” rating and set a $16.00 price target (up previously from $15.00) on shares of H&E Equipment Services in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.25.
H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.07. H&E Equipment Services had a return on equity of 27.93% and a net margin of 4.08%. The firm had revenue of $249.40 million during the quarter, compared to analysts’ expectations of $237.81 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis.
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Several institutional investors have recently made changes to their positions in HEES. Public Employees Retirement System of Ohio boosted its holdings in shares of H&E Equipment Services by 10.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,014 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 461 shares during the period. Legal & General Group Plc boosted its holdings in shares of H&E Equipment Services by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 7,752 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 317 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of H&E Equipment Services by 304.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,801 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 5,871 shares during the period. Wrapmanager Inc. boosted its holdings in shares of H&E Equipment Services by 3.9% in the 2nd quarter. Wrapmanager Inc. now owns 10,306 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 391 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of H&E Equipment Services in the 1st quarter worth approximately $230,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.
About H&E Equipment Services
H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.
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