H&E Equipment Services (HEES) Lowered to Hold at Zacks Investment Research

H&E Equipment Services (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

HEES has been the topic of a number of other reports. ValuEngine raised shares of H&E Equipment Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. BidaskClub cut shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 9th. Finally, UBS Group set a $30.00 price objective on shares of H&E Equipment Services and gave the company a “hold” rating in a research note on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. H&E Equipment Services currently has an average rating of “Hold” and a consensus price target of $34.80.

HEES stock traded down $1.59 during midday trading on Friday, reaching $24.48. The company’s stock had a trading volume of 194,326 shares, compared to its average volume of 237,659. H&E Equipment Services has a 52 week low of $18.12 and a 52 week high of $40.82. The stock has a market cap of $878.74 million, a PE ratio of 11.49, a PEG ratio of 0.74 and a beta of 2.77. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.62 and a current ratio of 0.90.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings data on Thursday, February 21st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. H&E Equipment Services had a net margin of 6.18% and a return on equity of 32.46%. The firm had revenue of $345.97 million for the quarter, compared to analysts’ expectations of $320.50 million. During the same period last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that H&E Equipment Services will post 2.3 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP acquired a new stake in H&E Equipment Services in the fourth quarter worth $30,000. Winch Advisory Services LLC raised its holdings in H&E Equipment Services by 366.6% in the fourth quarter. Winch Advisory Services LLC now owns 2,333 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 1,833 shares during the period. Public Employees Retirement System of Ohio raised its holdings in H&E Equipment Services by 21.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,142 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 548 shares during the period. Great West Life Assurance Co. Can raised its holdings in H&E Equipment Services by 9.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 428 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in H&E Equipment Services in the third quarter worth $230,000. 69.59% of the stock is currently owned by hedge funds and other institutional investors.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Repair and Maintenance Services. It rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks.

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