H&E Equipment Services (NASDAQ:HEES) Stock Price Up 4.9% – Here’s What Happened

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) were up 4.9% on Tuesday . The stock traded as high as $53.71 and last traded at $53.56. Approximately 97,871 shares traded hands during trading, a decline of 63% from the average daily volume of 266,056 shares. The stock had previously closed at $51.04.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HEES. Raymond James began coverage on H&E Equipment Services in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Stifel Nicolaus lowered their price objective on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. UBS Group cut their price objective on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, KeyCorp assumed coverage on shares of H&E Equipment Services in a research report on Friday, August 9th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

H&E Equipment Services Price Performance

The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 11.30 and a beta of 1.84. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 0.61. The company has a 50-day simple moving average of $47.62 and a two-hundred day simple moving average of $48.84.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The firm had revenue of $376.30 million for the quarter, compared to analyst estimates of $382.05 million. H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. H&E Equipment Services’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities research analysts forecast that H&E Equipment Services, Inc. will post 3.52 EPS for the current year.

H&E Equipment Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, August 28th. H&E Equipment Services’s payout ratio is currently 23.55%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in H&E Equipment Services by 42.5% during the 2nd quarter. CWM LLC now owns 932 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of H&E Equipment Services by 0.7% during the 2nd quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after buying an additional 326 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of H&E Equipment Services by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,781 shares of the industrial products company’s stock worth $371,000 after buying an additional 454 shares during the period. Diversified Trust Co grew its stake in H&E Equipment Services by 5.3% in the 2nd quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company’s stock valued at $443,000 after buying an additional 503 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in H&E Equipment Services by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock valued at $810,000 after buying an additional 627 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.