StockNews.com Initiates Coverage on H&E Equipment Services (NASDAQ:HEES)

Equities researchers at StockNews.com began coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $92.00 price objective (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. B. Riley reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.33.

H&E Equipment Services Price Performance

Shares of NASDAQ HEES opened at $96.74 on Tuesday. The firm has a market cap of $3.54 billion, a P/E ratio of 24.55 and a beta of 1.93. The business’s 50 day moving average is $73.40 and its 200-day moving average is $59.31. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. H&E Equipment Services has a 1-year low of $40.92 and a 1-year high of $101.28.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Friday, February 21st. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.18. The firm had revenue of $384.08 million for the quarter, compared to analysts’ expectations of $372.50 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. Equities research analysts predict that H&E Equipment Services will post 3.25 earnings per share for the current year.

Institutional Investors Weigh In On H&E Equipment Services

A number of large investors have recently bought and sold shares of HEES. Meeder Asset Management Inc. lifted its holdings in shares of H&E Equipment Services by 17.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 220 shares during the period. Millburn Ridgefield Corp acquired a new position in H&E Equipment Services during the third quarter valued at approximately $84,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in H&E Equipment Services by 227.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 1,910 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of H&E Equipment Services by 38.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 1,166 shares in the last quarter. Finally, L.M. Kohn & Company bought a new position in shares of H&E Equipment Services in the 3rd quarter valued at $217,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.