H&E Equipment Services (NASDAQ:HEES) Rating Lowered to Sell at BidaskClub

H&E Equipment Services (NASDAQ:HEES) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, September 11th.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Friday, June 1st. UBS Group upgraded shares of H&E Equipment Services from a “sell” rating to a “neutral” rating and set a $18.00 price objective on the stock in a report on Wednesday, June 27th. Bank of America dropped their price objective on shares of H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Friday, June 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $38.40.

Shares of NASDAQ:HEES traded down $0.06 during trading on Tuesday, reaching $38.62. 342,129 shares of the company traded hands, compared to its average volume of 271,320. The company has a quick ratio of 0.50, a current ratio of 0.92 and a debt-to-equity ratio of 4.12. H&E Equipment Services has a 1-year low of $27.46 and a 1-year high of $44.24. The firm has a market capitalization of $1.35 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.97 and a beta of 2.49.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 26th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.14. The firm had revenue of $310.40 million during the quarter, compared to analyst estimates of $282.25 million. H&E Equipment Services had a net margin of 11.08% and a return on equity of 42.25%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts expect that H&E Equipment Services will post 2.07 earnings per share for the current fiscal year.

In other H&E Equipment Services news, CEO John Engquist sold 2,100 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $40.05, for a total transaction of $84,105.00. Following the sale, the chief executive officer now directly owns 2,512,191 shares of the company’s stock, valued at $100,613,249.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Copper Rock Capital Partners LLC bought a new stake in H&E Equipment Services during the third quarter worth about $20,251,000. New England Research & Management Inc. acquired a new position in shares of H&E Equipment Services during the third quarter worth approximately $593,000. Northern Trust Corp lifted its position in shares of H&E Equipment Services by 2.3% during the second quarter. Northern Trust Corp now owns 396,771 shares of the industrial products company’s stock worth $14,923,000 after purchasing an additional 8,954 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of H&E Equipment Services by 429.2% during the second quarter. Public Employees Retirement System of Ohio now owns 15,902 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 12,897 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in shares of H&E Equipment Services by 15.2% during the second quarter. Putnam Investments LLC now owns 54,704 shares of the industrial products company’s stock worth $2,057,000 after purchasing an additional 7,228 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Company Profile

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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