H&E Equipment Services, Inc. (NASDAQ:HEES) Short Interest Down 19.4% in July

H&E Equipment Services, Inc. (NASDAQ:HEES) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 966,100 shares, a decline of 19.4% from the June 30th total of 1,197,900 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average trading volume of 211,000 shares, the short-interest ratio is currently 4.6 days.

HEES has been the subject of a number of recent analyst reports. BidaskClub lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Friday. UBS Group set a $31.00 price objective on shares of H&E Equipment Services and gave the stock a “hold” rating in a report on Friday, April 26th. Bank of America restated a “buy” rating and issued a $35.00 price objective (up from $32.00) on shares of H&E Equipment Services in a report on Monday, April 29th. Zacks Investment Research upgraded shares of H&E Equipment Services from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Tuesday, July 30th. Finally, ValuEngine upgraded shares of H&E Equipment Services from a “sell” rating to a “hold” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

HEES traded down $0.26 during mid-day trading on Tuesday, reaching $25.40. 9,422 shares of the company traded hands, compared to its average volume of 241,468. The firm has a market cap of $931.71 million, a PE ratio of 11.92, a P/E/G ratio of 1.01 and a beta of 2.86. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.69 and a quick ratio of 0.43. The stock’s fifty day moving average is $27.92. H&E Equipment Services has a 52-week low of $18.12 and a 52-week high of $39.33.

H&E Equipment Services (NASDAQ:HEES) last announced its earnings results on Thursday, July 25th. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $333.60 million during the quarter, compared to analyst estimates of $337.96 million. H&E Equipment Services had a net margin of 6.33% and a return on equity of 32.17%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. On average, research analysts forecast that H&E Equipment Services will post 2.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 valued at $64,000 after acquiring an additional 548 shares during the period. Quantamental Technologies LLC bought a new stake in shares of H&E Equipment Services during the 2nd quarter valued at $91,000. BNP Paribas Arbitrage SA grew its position in shares of H&E Equipment Services by 215.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,338 shares of the industrial products company’s stock valued at $184,000 after acquiring an additional 5,011 shares during the period. 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 valued at $202,000 after acquiring an additional 7,645 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of H&E Equipment Services during the 1st quarter valued at $213,000. Institutional investors and hedge funds own 71.35% 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: Gross Domestic Product (GDP)

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