StockNews.com Initiates Coverage on H&E Equipment Services (NASDAQ:HEES)

Research analysts at StockNews.com initiated coverage on shares of H&E Equipment Services (NASDAQ:HEESGet Free Report) in a report issued on Friday. The firm set a “hold” rating on the industrial products company’s stock.

A number of other research firms also recently commented on HEES. UBS Group reiterated a “neutral” rating and issued a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. B. Riley reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, H&E Equipment Services currently has an average rating of “Hold” and an average price target of $69.25.

Read Our Latest Stock Analysis on H&E Equipment Services

H&E Equipment Services Price Performance

HEES stock opened at $88.50 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 22.46 and a beta of 1.88. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The stock’s 50 day moving average is $59.78 and its two-hundred day moving average is $53.24. H&E Equipment Services has a 52-week low of $40.92 and a 52-week high of $90.66.

H&E Equipment Services (NASDAQ:HEESGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.15). The company had revenue of $384.86 million during the quarter, compared to analyst estimates of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. Analysts predict that H&E Equipment Services will post 3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in H&E Equipment Services by 2.9% during the 3rd quarter. State Street Corp now owns 779,075 shares of the industrial products company’s stock valued at $37,925,000 after acquiring an additional 21,805 shares in the last quarter. Geode Capital Management LLC grew its position in H&E Equipment Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company’s stock valued at $36,762,000 after purchasing an additional 4,226 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in H&E Equipment Services by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after purchasing an additional 41,749 shares in the last quarter. abrdn plc increased its stake in H&E Equipment Services by 4.0% in the 4th quarter. abrdn plc now owns 352,615 shares of the industrial products company’s stock valued at $17,264,000 after buying an additional 13,677 shares during the period. Finally, Two Sigma Advisers LP lifted its position in H&E Equipment Services by 36.4% in the 3rd quarter. Two Sigma Advisers LP now owns 237,785 shares of the industrial products company’s stock worth $11,575,000 after buying an additional 63,500 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

(Get Free Report)

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.

Further Reading

Analyst Recommendations for H&E Equipment Services (NASDAQ:HEES)

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