H&E Equipment Services (NASDAQ:HEES) Downgraded by BidaskClub

BidaskClub cut shares of H&E Equipment Services (NASDAQ:HEES) from a hold rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the stock. Buckingham Research raised their target price on shares of H&E Equipment Services from $36.00 to $40.00 and gave the stock a buy rating in a research report on Monday, November 11th. Bank of America lowered shares of H&E Equipment Services from a buy rating to a neutral rating in a research note on Thursday, November 14th. Zacks Investment Research lowered shares of H&E Equipment Services from a hold rating to a sell rating in a research note on Saturday, January 4th. Finally, ValuEngine lowered shares of H&E Equipment Services from a sell rating to a strong sell rating in a research note on Friday, January 3rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $35.60.

NASDAQ:HEES opened at $30.77 on Friday. The company has a 50-day moving average price of $32.65 and a 200-day moving average price of $29.88. H&E Equipment Services has a 12 month low of $22.52 and a 12 month high of $37.85. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 3.22. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 0.95 and a beta of 2.91.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Thursday, October 24th. The industrial products company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.11. H&E Equipment Services had a net margin of 6.71% and a return on equity of 33.21%. The firm had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $341.41 million. During the same period last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that H&E Equipment Services will post 2.51 EPS for the current fiscal year.

In related news, CEO Bradley W. Barber sold 21,273 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.91, for a total value of $785,186.43. Following the completion of the transaction, the chief executive officer now directly owns 92,469 shares in the company, valued at approximately $3,413,030.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new stake in H&E Equipment Services during the 2nd quarter valued at about $213,000. Charles Schwab Investment Management Inc. increased its stake in H&E Equipment Services by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 377,848 shares of the industrial products company’s stock valued at $10,992,000 after purchasing an additional 4,595 shares in the last quarter. Bank of New York Mellon Corp increased its stake in H&E Equipment Services by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 509,890 shares of the industrial products company’s stock valued at $14,832,000 after purchasing an additional 7,166 shares in the last quarter. Northern Trust Corp increased its stake in H&E Equipment Services by 1.3% during the 2nd quarter. Northern Trust Corp now owns 410,116 shares of the industrial products company’s stock valued at $11,930,000 after purchasing an additional 5,190 shares in the last quarter. Finally, MML Investors Services LLC bought a new stake in H&E Equipment Services during the 2nd quarter valued at about $798,000. Institutional investors own 74.05% of the company’s stock.

About H&E Equipment Services

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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