BidaskClub Upgrades H&E Equipment Services (NASDAQ:HEES) to “Buy”

H&E Equipment Services (NASDAQ:HEES) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded H&E Equipment Services from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Tuesday. UBS Group set a $31.00 price target on H&E Equipment Services and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America reiterated a “buy” rating and set a $35.00 price target (up from $32.00) on shares of H&E Equipment Services in a research report on Monday, April 29th. Finally, ValuEngine upgraded H&E Equipment Services from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. H&E Equipment Services has a consensus rating of “Hold” and a consensus price target of $31.80.

Shares of HEES traded down $1.38 during midday trading on Thursday, hitting $27.80. 201,138 shares of the company traded hands, compared to its average volume of 204,442. The stock’s 50-day moving average is $28.18. H&E Equipment Services has a one year low of $18.12 and a one year high of $39.33. The firm has a market cap of $994.68 million, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.16 and a beta of 2.86. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.43 and a current ratio of 0.69.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.08. H&E Equipment Services had a return on equity of 32.17% and a net margin of 6.33%. The firm had revenue of $333.60 million for the quarter, compared to analysts’ expectations of $337.96 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts predict that H&E Equipment Services will post 2.47 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in shares of 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 last quarter. Great West Life Assurance Co. Can increased its position in shares of 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 last quarter. Envestnet Asset Management Inc. bought a new position in shares of H&E Equipment Services in the second quarter worth approximately $213,000. BNP Paribas Arbitrage SA increased its position in shares of H&E Equipment Services by 215.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,338 shares of the industrial products company’s stock worth $184,000 after purchasing an additional 5,011 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of H&E Equipment Services in the first quarter worth approximately $213,000. Institutional investors own 70.70% of the company’s stock.

H&E Equipment Services Company Profile

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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