H&E Equipment Services (NASDAQ:HEES) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of H&E Equipment Services (NASDAQ:HEES) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. The firm currently has $32.00 target price on the industrial products company’s stock.
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 equities analysts have also recently issued reports about the company. BidaskClub upgraded H&E Equipment Services from a sell rating to a hold rating in a report on Tuesday, September 10th. ValuEngine upgraded H&E Equipment Services from a sell rating to a hold rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $31.40.
H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. H&E Equipment Services had a return on equity of 32.17% and a net margin of 6.33%. The firm had revenue of $333.60 million during the quarter, compared to analysts’ expectations of $337.96 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that H&E Equipment Services will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Monday, August 26th. H&E Equipment Services’s dividend payout ratio is presently 51.64%.
A number of hedge funds have recently modified their holdings of the stock. Chartwell Investment Partners LLC purchased a new stake in H&E Equipment Services during the 2nd quarter valued at about $2,720,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in H&E Equipment Services by 30.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,736 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 636 shares during the period. Zacks Investment Management boosted its holdings in H&E Equipment Services by 171.0% during the 2nd quarter. Zacks Investment Management now owns 35,912 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 22,660 shares during the period. Nuveen Asset Management LLC purchased a new stake in H&E Equipment Services during the 2nd quarter valued at about $8,345,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in H&E Equipment Services by 54.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 19,892 shares of the industrial products company’s stock valued at $579,000 after acquiring an additional 6,992 shares during the period. Institutional investors own 73.02% of the company’s stock.
H&E Equipment Services Company Profile
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.
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