H&E Equipment Services (NASDAQ:HEES) Sets New 52-Week Low at $28.08

H&E Equipment Services, Inc. (NASDAQ:HEESGet Rating)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $28.08 and last traded at $28.10, with a volume of 13363 shares. The stock had previously closed at $31.69.

Several equities analysts have recently weighed in on HEES shares. StockNews.com started coverage on shares of H&E Equipment Services in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Wells Fargo & Company started coverage on shares of H&E Equipment Services in a research note on Friday, March 11th. They issued an “overweight” rating and a $55.00 price objective on the stock. Finally, UBS Group upgraded shares of H&E Equipment Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $48.00 in a research note on Tuesday, March 8th.

The company’s fifty day moving average is $35.67 and its 200-day moving average is $40.06. The company has a market capitalization of $1.01 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.29 and a beta of 2.09. The company has a debt-to-equity ratio of 3.99, a quick ratio of 2.61 and a current ratio of 3.10.

H&E Equipment Services (NASDAQ:HEESGet Rating) last released its earnings results on Wednesday, April 27th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.18. The company had revenue of $272.45 million during the quarter, compared to analyst estimates of $261.91 million. H&E Equipment Services had a net margin of 10.02% and a return on equity of 28.18%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. On average, sell-side analysts expect that H&E Equipment Services, Inc. will post 2.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, May 26th. H&E Equipment Services’s dividend payout ratio is 35.03%.

In other H&E Equipment Services news, Director Gary W. Bagley sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $36.07, for a total transaction of $216,420.00. Following the completion of the sale, the director now directly owns 99,517 shares of the company’s stock, valued at approximately $3,589,578.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bradley W. Barber bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average cost of $34.95 per share, with a total value of $174,750.00. Following the completion of the acquisition, the chief executive officer now owns 166,786 shares of the company’s stock, valued at approximately $5,829,170.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 35,042 shares of company stock valued at $1,181,636 and have sold 23,500 shares valued at $935,795. Company insiders own 11.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in shares of H&E Equipment Services by 6.8% in the first quarter. Principal Financial Group Inc. now owns 5,841 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 372 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of H&E Equipment Services by 6.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,377 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 381 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in H&E Equipment Services by 1.9% in the first quarter. NorthCrest Asset Manangement LLC now owns 21,300 shares of the industrial products company’s stock worth $927,000 after buying an additional 400 shares during the last quarter. Saltoro Capital LP lifted its position in H&E Equipment Services by 2.4% in the fourth quarter. Saltoro Capital LP now owns 19,613 shares of the industrial products company’s stock worth $868,000 after buying an additional 461 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in H&E Equipment Services by 7.4% in the first quarter. Teacher Retirement System of Texas now owns 6,736 shares of the industrial products company’s stock worth $293,000 after buying an additional 462 shares during the last quarter. 83.91% of the stock is owned by hedge funds and other institutional investors.

About H&E Equipment Services (NASDAQ:HEES)

H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, Used Equipment Sales, New Equipment Sales, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis through a fleet of approximately 42,725 pieces of equipment.

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