H&E Equipment Services (HEES) Stock Rating Lowered by 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 Wednesday, Zacks.com reports.

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. “

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of H&E Equipment Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. BidaskClub upgraded shares of H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Tuesday, December 25th. Finally, UBS Group set a $30.00 price target 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 three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.67.

Shares of HEES stock opened at $28.65 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $1.00 billion, a PE ratio of 13.45, a PEG ratio of 0.81 and a beta of 2.75. H&E Equipment Services has a 52-week low of $18.12 and a 52-week high of $40.82.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP acquired a new position in H&E Equipment Services in the 4th quarter valued at about $30,000. Winch Advisory Services LLC grew its stake in H&E Equipment Services by 366.6% in the 4th quarter. Winch Advisory Services LLC now owns 2,333 shares of the industrial products company’s stock valued at $48,000 after buying an additional 1,833 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of H&E Equipment Services by 21.1% during the 4th 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 in the last quarter. Great West Life Assurance Co. Can grew its position in shares of H&E Equipment Services by 9.2% during the 4th 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of H&E Equipment Services by 343.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,869 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 7,645 shares in the last quarter. Institutional investors and hedge funds own 71.52% of the company’s stock.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company 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.

Further Reading: Quiet Period Expirations

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