H&E Equipment Services, Inc. (HEES) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of H&E Equipment Services, Inc. (NASDAQ:HEES) from a buy rating to a hold rating in a research report sent to investors on Wednesday 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 equities research analysts have also recently commented on HEES. Royal Bank Of Canada reissued a buy rating and set a $30.00 price target on shares of H&E Equipment Services in a research report on Wednesday, July 12th. UBS AG reissued a sell rating and set a $16.00 price target (up from $15.00) on shares of H&E Equipment Services in a research report on Monday, July 31st. BidaskClub raised shares of H&E Equipment Services from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. ValuEngine raised shares of H&E Equipment Services from a hold rating to a buy rating in a research report on Monday, August 14th. Finally, Bank of America Corporation initiated coverage on shares of H&E Equipment Services in a research report on Tuesday, September 26th. They set a buy rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $26.25.
H&E Equipment Services (NASDAQ:HEES) traded up 0.37% during trading on Wednesday, reaching $29.81. 109,895 shares of the company’s stock traded hands. The firm has a market cap of $1.05 billion, a PE ratio of 26.88 and a beta of 2.65. H&E Equipment Services has a 12 month low of $12.72 and a 12 month high of $30.21. The firm has a 50 day moving average price of $25.58 and a 200-day moving average price of $22.50.
H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. H&E Equipment Services had a net margin of 4.08% and a return on equity of 27.93%. The firm had revenue of $249.40 million for the quarter, compared to analysts’ expectations of $237.81 million. During the same period in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that H&E Equipment Services will post $1.19 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.10 annualized dividend and a dividend yield of 3.69%. H&E Equipment Services’s dividend payout ratio is presently 99.10%.
Several institutional investors have recently added to or reduced their stakes in HEES. Bank of New York Mellon Corp increased its stake in shares of H&E Equipment Services by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 535,041 shares of the industrial products company’s stock worth $13,119,000 after purchasing an additional 34,220 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of H&E Equipment Services during the 1st quarter worth about $297,000. Karp Capital Management Corp acquired a new position in shares of H&E Equipment Services during the 1st quarter worth about $310,000. JPMorgan Chase & Co. increased its stake in shares of H&E Equipment Services by 21.8% during the 1st quarter. JPMorgan Chase & Co. now owns 776,505 shares of the industrial products company’s stock worth $19,041,000 after purchasing an additional 139,219 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of H&E Equipment Services by 375.8% during the 1st quarter. Prudential Financial Inc. now owns 124,457 shares of the industrial products company’s stock worth $3,052,000 after purchasing an additional 98,300 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.
H&E Equipment Services Company Profile
H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.
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