H&E Equipment Services (HEES) Downgraded by ValuEngine

ValuEngine lowered shares of H&E Equipment Services (NASDAQ:HEES) from a hold rating to a sell rating in a report issued on Thursday morning.

HEES has been the subject of several other research reports. BidaskClub raised H&E Equipment Services from a buy rating to a strong-buy rating in a report on Saturday, September 29th. Zacks Investment Research cut H&E Equipment Services from a hold rating to a sell rating in a report on Wednesday, September 26th. UBS Group raised H&E Equipment Services from a sell rating to a neutral rating and set a $18.00 price target for the company in a report on Wednesday, June 27th. Finally, Bank of America cut their price target on H&E Equipment Services from $48.00 to $46.00 and set a buy rating for the company in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $38.40.

Shares of NASDAQ:HEES traded down $1.34 during midday trading on Thursday, hitting $25.56. The company had a trading volume of 16,984 shares, compared to its average volume of 281,820. H&E Equipment Services has a twelve month low of $26.45 and a twelve month high of $44.24. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.50 and a current ratio of 0.92. The stock has a market cap of $1.16 billion, a PE ratio of 7.73, a P/E/G ratio of 0.83 and a beta of 2.49.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.44 by $0.14. H&E Equipment Services had a return on equity of 42.25% and a net margin of 11.08%. The firm had revenue of $310.40 million during the quarter, compared to analysts’ expectations of $282.25 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, analysts predict that H&E Equipment Services will post 2.07 earnings per share for the current fiscal year.

In other H&E Equipment Services news, CEO John Engquist sold 2,100 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $40.05, for a total transaction of $84,105.00. Following the completion of the sale, the chief executive officer now owns 2,512,191 shares of the company’s stock, valued at $100,613,249.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in H&E Equipment Services by 10.0% during the second quarter. BlackRock Inc. now owns 2,276,425 shares of the industrial products company’s stock worth $85,618,000 after acquiring an additional 206,553 shares during the last quarter. Bank of America Corp DE increased its stake in H&E Equipment Services by 24.5% during the second quarter. Bank of America Corp DE now owns 984,337 shares of the industrial products company’s stock worth $37,021,000 after acquiring an additional 193,766 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new stake in H&E Equipment Services during the third quarter worth $20,251,000. Northern Trust Corp increased its stake in H&E Equipment Services by 2.3% during the second quarter. Northern Trust Corp now owns 396,771 shares of the industrial products company’s stock worth $14,923,000 after acquiring an additional 8,954 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in H&E Equipment Services by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 319,389 shares of the industrial products company’s stock worth $12,013,000 after acquiring an additional 19,757 shares during the last quarter. 76.76% of the stock is owned by institutional investors.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

Read More: Fundamental Analysis

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