H&E Equipment Services (HEES) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of H&E Equipment Services (NASDAQ:HEES) from a strong-buy rating to a hold rating in a report published on Wednesday.

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. “

A number of other research analysts also recently weighed in on the company. BidaskClub upgraded H&E Equipment Services from a hold rating to a buy rating in a report on Saturday, February 23rd. ValuEngine upgraded H&E Equipment Services from a strong sell rating to a sell rating in a report on Thursday, January 24th. Finally, UBS Group set a $28.00 target price on H&E Equipment Services and gave the stock a hold rating in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $34.60.

HEES opened at $29.02 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.95 and a beta of 2.75. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.81 and a quick ratio of 0.52. H&E Equipment Services has a one year low of $18.12 and a one year high of $44.24.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. The business had revenue of $345.97 million during the quarter, compared to analyst estimates of $320.50 million. H&E Equipment Services had a return on equity of 33.44% and a net margin of 6.18%. H&E Equipment Services’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. Equities research analysts forecast that H&E Equipment Services will post 2.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 20th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.79%. H&E Equipment Services’s dividend payout ratio (DPR) is 51.64%.

In other news, Director Bruce Bruckmann bought 22,500 shares of H&E Equipment Services stock in a transaction on Friday, December 21st. The shares were purchased at an average price of $19.56 per share, for a total transaction of $440,100.00. Following the acquisition, the director now owns 767,740 shares of the company’s stock, valued at $15,016,994.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Arnold purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was bought at an average price of $20.07 per share, for a total transaction of $200,700.00. Following the purchase, the director now directly owns 68,204 shares in the company, valued at $1,368,854.28. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of H&E Equipment Services by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,655,804 shares of the industrial products company’s stock worth $33,812,000 after buying an additional 26,558 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of H&E Equipment Services by 21.1% in 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 buying an additional 548 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of H&E Equipment Services by 1.9% in the 4th quarter. Macquarie Group Ltd. now owns 1,735,048 shares of the industrial products company’s stock worth $35,430,000 after buying an additional 31,800 shares during the last quarter. Legal & General Group Plc grew its stake in shares of H&E Equipment Services by 40.4% in the 4th quarter. Legal & General Group Plc now owns 17,272 shares of the industrial products company’s stock worth $353,000 after buying an additional 4,966 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of H&E Equipment Services by 343.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,869 shares of the industrial products company’s stock worth $202,000 after buying an additional 7,645 shares during the last quarter. Institutional investors own 71.30% 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 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.

Featured Story: Conference Calls

Get a free copy of the Zacks research report on H&E Equipment Services (HEES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for H&E Equipment Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for H&E Equipment Services and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply