H&E Equipment Services (NASDAQ:HEES) Sets New 1-Year High – Should You Buy?

H&E Equipment Services, Inc. (NASDAQ:HEES) hit a new 52-week high on Tuesday . The stock traded as high as $90.66 and last traded at $90.49, with a volume of 3845987 shares changing hands. The stock had previously closed at $43.94.

Wall Street Analysts Forecast Growth

Separately, B. Riley restated a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, H&E Equipment Services currently has an average rating of “Moderate Buy” and an average price target of $61.25.

H&E Equipment Services Price Performance

The company has a market cap of $3.31 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 13.05 and a beta of 1.88. The company has a 50 day moving average price of $54.27 and a 200-day moving average price of $50.43. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09.

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

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is 27.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of H&E Equipment Services by 104.6% during the 2nd quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after purchasing an additional 721,270 shares during the period. State Street Corp grew its holdings in H&E Equipment Services by 2.9% during the third quarter. State Street Corp now owns 779,075 shares of the industrial products company’s stock valued at $37,925,000 after purchasing an additional 21,805 shares during the period. Geode Capital Management LLC increased its holdings in H&E Equipment Services by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company’s stock worth $36,762,000 after acquiring an additional 4,226 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in H&E Equipment Services by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after buying an additional 41,749 shares in the last quarter. Finally, abrdn plc raised its stake in shares of H&E Equipment Services by 5.2% during the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after purchasing an additional 16,681 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

About H&E Equipment Services

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.