H&E Equipment Services (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 brokerages have also commented on HEES. BidaskClub upgraded H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.60.

Shares of NASDAQ:HEES traded up $0.67 on Wednesday, reaching $27.78. The company’s stock had a trading volume of 224,846 shares, compared to its average volume of 225,953. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.43 and a current ratio of 0.69. H&E Equipment Services has a 52-week low of $18.12 and a 52-week high of $39.33. The company has a 50-day simple moving average of $26.20 and a 200 day simple moving average of $27.21. The company has a market cap of $979.30 million, a P/E ratio of 13.04, a PEG ratio of 1.00 and a beta of 2.89.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.63 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $337.96 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that H&E Equipment Services will post 2.47 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of HEES. Chartwell Investment Partners LLC purchased a new position in H&E Equipment Services in the 2nd quarter valued at $2,720,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of H&E Equipment Services by 30.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,736 shares of the industrial products company’s stock worth $80,000 after buying an additional 636 shares in the last quarter. Zacks Investment Management grew its holdings in shares of H&E Equipment Services by 171.0% during the second quarter. Zacks Investment Management now owns 35,912 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 22,660 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of H&E Equipment Services during the second quarter worth $8,345,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of H&E Equipment Services by 54.2% in the second quarter. UBS Asset Management Americas Inc. now owns 19,892 shares of the industrial products company’s stock valued at $579,000 after buying an additional 6,992 shares during the last quarter. 73.02% of the stock is owned by institutional investors and hedge funds.

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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