H&E Equipment Services (HEES) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of H&E Equipment Services (NASDAQ:HEES) from a sell rating to a hold rating in a report published on Thursday.

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 brokerages also recently weighed in on HEES. BidaskClub raised H&E Equipment Services from a sell rating to a hold rating in a research report on Tuesday, September 18th. Bank of America decreased their target price on H&E Equipment Services from $48.00 to $46.00 and set a buy rating for the company in a research report on Friday, July 27th. ValuEngine downgraded H&E Equipment Services from a hold rating to a sell rating in a research report on Thursday, October 18th. Finally, Macquarie set a $25.00 target price on H&E Equipment Services and gave the stock a hold rating in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $35.80.

HEES stock traded up $0.07 during trading on Thursday, reaching $24.13. 417,700 shares of the stock traded hands, compared to its average volume of 301,735. H&E Equipment Services has a 52-week low of $19.57 and a 52-week high of $44.24. The company has a current ratio of 0.81, a quick ratio of 0.52 and a debt-to-equity ratio of 3.93. The company has a market cap of $790.45 million, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.77 and a beta of 2.49.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Thursday, October 25th. The industrial products company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). H&E Equipment Services had a return on equity of 35.00% and a net margin of 11.58%. The company had revenue of $322.14 million during the quarter, compared to analysts’ expectations of $301.40 million. Equities analysts forecast that H&E Equipment Services will post 2 EPS for the current fiscal year.

In related news, Director Paul Arnold bought 10,000 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was bought at an average price of $20.50 per share, with a total value of $205,000.00. Following the completion of the transaction, the director now directly owns 58,204 shares of the company’s stock, valued at $1,193,182. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in HEES. Copper Rock Capital Partners LLC acquired a new position in shares of H&E Equipment Services in the third quarter worth about $20,251,000. James Investment Research Inc. acquired a new position in shares of H&E Equipment Services in the second quarter worth about $10,734,000. United Services Automobile Association lifted its stake in shares of H&E Equipment Services by 1,067.8% in the second quarter. United Services Automobile Association now owns 273,410 shares of the industrial products company’s stock worth $10,379,000 after acquiring an additional 249,997 shares in the last quarter. BlackRock Inc. lifted its stake in shares of H&E Equipment Services by 10.0% in 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 in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of H&E Equipment Services by 24.5% in 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 in the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.

About H&E Equipment Services

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.

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