Zacks Investment Research Upgrades H&E Equipment Services Inc. (HEES) to Hold
H&E Equipment Services Inc. (NASDAQ:HEES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Shares of H&E Equipment Services (NASDAQ:HEES) opened at 16.71 on Wednesday. H&E Equipment Services has a 12-month low of $10.12 and a 12-month high of $21.48. The stock’s 50 day moving average price is $16.07 and its 200-day moving average price is $17.93. The firm has a market cap of $587.29 million, a P/E ratio of 14.93 and a beta of 2.43.
H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. H&E Equipment Services had a return on equity of 28.49% and a net margin of 3.83%. The firm had revenue of $242.10 million for the quarter, compared to analyst estimates of $255.46 million. During the same period in the previous year, the company earned $0.33 earnings per share. H&E Equipment Services’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts predict that H&E Equipment Services will post $1.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 22nd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Thursday, August 18th. H&E Equipment Services’s payout ratio is currently 97.35%.
In related news, Director John Sawyer purchased 2,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $15.50 per share, with a total value of $31,000.00. Following the transaction, the director now owns 20,550 shares of the company’s stock, valued at approximately $318,525. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in H&E Equipment Services during the second quarter worth approximately $7,031,000. Boston Advisors LLC bought a new stake in H&E Equipment Services during the second quarter worth approximately $5,590,000. JPMorgan Chase & Co. raised its stake in H&E Equipment Services by 9,368.6% in the first quarter. JPMorgan Chase & Co. now owns 133,129 shares of the company’s stock worth $2,334,000 after buying an additional 131,723 shares during the last quarter. Nicholas Investment Partners LP bought a new stake in H&E Equipment Services during the first quarter worth approximately $1,855,000. Finally, Vanguard Group Inc. raised its stake in H&E Equipment Services by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,376,002 shares of the company’s stock worth $45,215,000 after buying an additional 94,191 shares during the last quarter. 74.37% of the stock is owned by institutional investors and hedge funds.
About H&E Equipment Services
H&E Equipment Services, Inc is an integrated equipment services company. The Company rents, sells and provides parts and services support for approximately four core categories of specialized equipment, such as hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.
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