H&E Equipment Services (HEES) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of H&E Equipment Services (NASDAQ:HEES) from a hold rating to a sell rating in a report released on Tuesday morning.

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 weighed in on the stock. ValuEngine cut shares of H&E Equipment Services from a hold rating to a sell rating in a research report on Thursday, October 18th. BidaskClub upgraded shares of H&E Equipment Services from a buy rating to a strong-buy rating in a research report on Saturday, September 29th. Macquarie set a $25.00 price objective on shares of H&E Equipment Services and gave the company a hold rating in a research report on Friday, October 26th. Finally, UBS Group set a $28.00 price objective on shares of H&E Equipment Services and gave the company a hold rating in a research report on Monday, November 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. H&E Equipment Services has an average rating of Hold and a consensus target price of $37.80.

Shares of H&E Equipment Services stock traded down $0.25 on Tuesday, hitting $24.46. 113,432 shares of the company traded hands, compared to its average volume of 425,214. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.52 and a current ratio of 0.81. The stock has a market cap of $886.93 million, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.80 and a beta of 2.53. H&E Equipment Services has a 12-month low of $18.12 and a 12-month high of $44.24.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data 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). The company had revenue of $322.14 million for the quarter, compared to analysts’ expectations of $301.40 million. H&E Equipment Services had a net margin of 11.58% and a return on equity of 35.00%. On average, analysts predict that H&E Equipment Services will post 1.99 earnings per share for the current year.

In other H&E Equipment Services news, Director Bruce Bruckmann bought 22,500 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were bought at an average price of $19.56 per share, for a total transaction of $440,100.00. Following the transaction, the director now directly owns 767,740 shares in the company, valued at $15,016,994.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Arnold bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average price of $20.50 per share, for a total transaction of $205,000.00. Following the transaction, the director now owns 58,204 shares in the company, valued at $1,193,182. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 42,500 shares of company stock worth $845,800. 11.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Copper Rock Capital Partners LLC bought a new stake in H&E Equipment Services in the 3rd quarter worth $20,251,000. BlackRock Inc. grew its holdings in H&E Equipment Services by 14.4% in the 3rd quarter. BlackRock Inc. now owns 2,603,108 shares of the industrial products company’s stock worth $98,346,000 after acquiring an additional 326,683 shares during the last quarter. Alliancebernstein L.P. grew its holdings in H&E Equipment Services by 26.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,460,672 shares of the industrial products company’s stock worth $55,184,000 after acquiring an additional 306,269 shares during the last quarter. Bank of America Corp DE grew its holdings in H&E Equipment Services by 24.5% in the 2nd 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. Finally, PNC Financial Services Group Inc. grew its holdings in H&E Equipment Services by 6,476.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 157,844 shares of the industrial products company’s stock worth $5,962,000 after acquiring an additional 155,444 shares during the last quarter. Institutional investors own 75.44% 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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