H&E Equipment Services (HEES) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of H&E Equipment Services (NASDAQ:HEES) from a hold rating to a sell rating in a report published on Friday.

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. “

HEES has been the topic of a number of other research reports. BidaskClub cut shares of H&E Equipment Services from a strong-buy rating to a buy rating in a research note on Friday, July 13th. Macquarie set a $25.00 price objective on shares of H&E Equipment Services and gave the stock a hold rating in a research note on Friday. ValuEngine cut shares of H&E Equipment Services from a hold rating to a sell rating in a research note on Thursday, October 18th. Finally, Bank of America dropped their price objective on shares of H&E Equipment Services from $48.00 to $46.00 and set a buy rating on the stock in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. H&E Equipment Services currently has an average rating of Hold and a consensus target price of $36.17.



Shares of NASDAQ:HEES opened at $20.14 on Friday. H&E Equipment Services has a twelve month low of $19.57 and a twelve month high of $44.24. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.50 and a current ratio of 0.92. The company has a market capitalization of $718.70 million, a P/E ratio of 5.79, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). H&E Equipment Services had a return on equity of 35.76% and a net margin of 11.58%. The business had revenue of $322.14 million during the quarter, compared to analyst estimates of $301.40 million. On average, analysts forecast that H&E Equipment Services will post 2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of H&E Equipment Services by 23.5% during the 3rd quarter. Alps Advisors Inc. now owns 13,530 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 2,572 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of H&E Equipment Services by 45.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 11,862 shares of the industrial products company’s stock worth $447,000 after purchasing an additional 3,695 shares during the period. Wealth Advisors of Tampa Bay LLC grew its stake in shares of H&E Equipment Services by 3.6% during the 3rd quarter. Wealth Advisors of Tampa Bay LLC now owns 89,764 shares of the industrial products company’s stock worth $3,390,000 after purchasing an additional 3,121 shares during the period. Calamos Advisors LLC acquired a new stake in shares of H&E Equipment Services during the 3rd quarter worth approximately $408,000. Finally, IMA Wealth Inc. acquired a new stake in shares of H&E Equipment Services during the 3rd quarter worth approximately $956,000. 76.77% 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. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

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