H&E Equipment Services, Inc. (NASDAQ:HEES) Sees Significant Drop in Short Interest

H&E Equipment Services, Inc. (NASDAQ:HEES) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 966,100 shares, a drop of 19.4% from the June 30th total of 1,197,900 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average trading volume of 211,000 shares, the days-to-cover ratio is currently 4.6 days.

Several hedge funds have recently added to or reduced their stakes in HEES. Boston Advisors LLC boosted its holdings in H&E Equipment Services by 1.4% in the second quarter. Boston Advisors LLC now owns 39,027 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 536 shares during the period. Public Employees Retirement System of Ohio boosted its holdings 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 purchasing an additional 548 shares during the period. GSA Capital Partners LLP boosted its holdings in H&E Equipment Services by 1.8% in the second quarter. GSA Capital Partners LLP now owns 56,281 shares of the industrial products company’s stock worth $1,637,000 after purchasing an additional 968 shares during the period. Aperio Group LLC boosted its holdings in H&E Equipment Services by 5.6% in the second quarter. Aperio Group LLC now owns 18,959 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 1,006 shares during the period. Finally, Strs Ohio boosted its holdings in H&E Equipment Services by 7.6% in the second quarter. Strs Ohio now owns 18,500 shares of the industrial products company’s stock worth $538,000 after purchasing an additional 1,300 shares during the period. 71.35% of the stock is owned by institutional investors and hedge funds.

Shares of HEES stock traded down $0.26 during mid-day trading on Thursday, reaching $24.12. 163,194 shares of the company were exchanged, compared to its average volume of 226,416. H&E Equipment Services has a fifty-two week low of $18.12 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.43 and a current ratio of 0.69. The company has a market capitalization of $918.06 million, a P/E ratio of 11.32, a P/E/G ratio of 0.97 and a beta of 2.86. The business’s 50 day simple moving average is $27.73 and its 200 day simple moving average is $27.59.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. H&E Equipment Services had a net margin of 6.33% and a return on equity of 32.17%. The business had revenue of $333.60 million during the quarter, compared to the consensus estimate of $337.96 million. During the same quarter last year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that H&E Equipment Services will post 2.47 EPS for the current year.

HEES has been the subject of several recent research reports. UBS Group set a $31.00 price objective on shares of H&E Equipment Services and gave the company a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of H&E Equipment Services from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a research report on Tuesday, July 30th. BidaskClub downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Bank of America reaffirmed a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of H&E Equipment Services in a research report on Monday, April 29th. Finally, ValuEngine raised shares of H&E Equipment Services from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

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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