H&E Equipment Services (NASDAQ:HEES) Cut to Sell at Zacks Investment Research

H&E Equipment Services (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Other research analysts have also issued research reports about the company. ValuEngine lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group reissued a “hold” rating and set a $7.80 price objective on shares of Deutsche Bank in a report on Friday, April 26th. Longbow Research started coverage on H&E Equipment Services in a report on Friday, March 29th. They set a “buy” rating and a $34.00 price objective for the company. Finally, Bank of America reissued a “buy” rating and set a $420.00 price objective (up previously from $400.00) on shares of Lendingtree in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.60.

Shares of NASDAQ HEES traded down $0.83 during midday trading on Wednesday, hitting $27.53. 205,780 shares of the company’s stock were exchanged, compared to its average volume of 224,800. H&E Equipment Services has a 12-month low of $18.12 and a 12-month high of $40.20. The company has a current ratio of 0.74, a quick ratio of 0.44 and a debt-to-equity ratio of 3.61. The stock has a market capitalization of $996.83 million, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.12 and a beta of 2.84. The firm has a fifty day moving average price of $27.22.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.11. H&E Equipment Services had a return on equity of 32.93% and a net margin of 6.30%. The company had revenue of $313.60 million during the quarter, compared to analyst estimates of $288.61 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. H&E Equipment Services’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that H&E Equipment Services will post 2.48 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of HEES. Great West Life Assurance Co. Can boosted its stake in H&E Equipment Services by 9.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the industrial products company’s stock worth $98,000 after buying an additional 428 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in H&E Equipment Services by 21.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,142 shares of the industrial products company’s stock worth $64,000 after buying an additional 548 shares in the last quarter. Victory Capital Management Inc. boosted its stake in H&E Equipment Services by 6.5% in the first quarter. Victory Capital Management Inc. now owns 22,290 shares of the industrial products company’s stock worth $560,000 after buying an additional 1,366 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in H&E Equipment Services by 18.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,881 shares of the industrial products company’s stock worth $222,000 after buying an additional 1,690 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in H&E Equipment Services by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 46,378 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 1,814 shares in the last quarter. 71.04% of the stock is owned by institutional investors.

H&E Equipment Services Company Profile

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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