H&E Equipment Services (NASDAQ:HEES) Price Target Cut to $65.00

H&E Equipment Services (NASDAQ:HEES) had its price objective lowered by Stifel Nicolaus from $69.00 to $65.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on HEES. StockNews.com upgraded shares of H&E Equipment Services from a hold rating to a buy rating in a research report on Wednesday, February 21st. Wells Fargo & Company increased their price objective on shares of H&E Equipment Services from $62.00 to $63.00 and gave the company an overweight rating in a report on Friday, February 23rd.

H&E Equipment Services Trading Down 0.9 %

Shares of NASDAQ:HEES opened at $46.65 on Wednesday. H&E Equipment Services has a fifty-two week low of $32.33 and a fifty-two week high of $66.18. The company has a quick ratio of 0.74, a current ratio of 0.85 and a debt-to-equity ratio of 2.26. The company has a market cap of $1.70 billion, a PE ratio of 9.99, a P/E/G ratio of 1.73 and a beta of 1.98. The company’s 50-day moving average price is $59.01 and its 200 day moving average price is $52.23.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). H&E Equipment Services had a return on equity of 34.33% and a net margin of 11.17%. The business had revenue of $371.20 million for the quarter, compared to analyst estimates of $352.52 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that H&E Equipment Services will post 4.08 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, February 22nd. H&E Equipment Services’s payout ratio is 23.55%.

Insider Activity

In related news, CEO Bradley W. Barber sold 15,385 shares of H&E Equipment Services stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $57.54, for a total value of $885,252.90. Following the transaction, the chief executive officer now owns 232,742 shares of the company’s stock, valued at approximately $13,391,974.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Bradley W. Barber sold 9,615 shares of H&E Equipment Services stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.80, for a total transaction of $555,747.00. Following the completion of the sale, the chief executive officer now owns 223,127 shares of the company’s stock, valued at $12,896,740.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Bradley W. Barber sold 15,385 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $57.54, for a total value of $885,252.90. Following the completion of the transaction, the chief executive officer now directly owns 232,742 shares in the company, valued at $13,391,974.68. The disclosure for this sale can be found here. Insiders sold a total of 75,800 shares of company stock valued at $4,534,789 over the last three months. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On H&E Equipment Services

Several institutional investors have recently made changes to their positions in HEES. SG Americas Securities LLC acquired a new stake in H&E Equipment Services in the third quarter valued at approximately $494,000. Redwood Investments LLC lifted its stake in shares of H&E Equipment Services by 21.9% in the 3rd quarter. Redwood Investments LLC now owns 280,891 shares of the industrial products company’s stock valued at $12,132,000 after purchasing an additional 50,410 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in H&E Equipment Services by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 307,891 shares of the industrial products company’s stock worth $13,298,000 after purchasing an additional 5,840 shares in the last quarter. Strs Ohio increased its position in H&E Equipment Services by 81.4% during the third quarter. Strs Ohio now owns 7,800 shares of the industrial products company’s stock worth $336,000 after buying an additional 3,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in H&E Equipment Services by 9.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 309,899 shares of the industrial products company’s stock valued at $13,385,000 after buying an additional 25,599 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, 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.