Zacks Investment Research Downgrades H&E Equipment Services (NASDAQ:HEES) to Hold

H&E Equipment Services (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “

HEES has been the subject of several other research reports. BidaskClub upgraded H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised H&E Equipment Services from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.60.

Shares of NASDAQ HEES traded up $0.67 during mid-day trading on Wednesday, hitting $27.78. The company had a trading volume of 224,846 shares, compared to its average volume of 225,953. The company has a market capitalization of $979.30 million, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.00 and a beta of 2.89. The business’s 50-day simple moving average is $26.20 and its 200 day simple moving average is $27.21. H&E Equipment Services has a 1-year low of $18.12 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.69 and a quick ratio of 0.43.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. H&E Equipment Services had a return on equity of 32.17% and a net margin of 6.33%. The firm had revenue of $333.60 million during the quarter, compared to analysts’ expectations of $337.96 million. During the same period in the previous year, the firm posted $0.58 EPS. H&E Equipment Services’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts expect that H&E Equipment Services will post 2.47 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new position in shares of H&E Equipment Services during the second quarter worth $8,345,000. SG Capital Management LLC raised its stake in H&E Equipment Services by 150.7% in the second quarter. SG Capital Management LLC now owns 432,703 shares of the industrial products company’s stock valued at $12,587,000 after buying an additional 260,116 shares in the last quarter. Bank of America Corp DE raised its stake in H&E Equipment Services by 64.0% in the second quarter. Bank of America Corp DE now owns 523,292 shares of the industrial products company’s stock valued at $15,223,000 after buying an additional 204,154 shares in the last quarter. BlackRock Inc. lifted its holdings in H&E Equipment Services by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,687,107 shares of the industrial products company’s stock worth $78,169,000 after buying an additional 197,731 shares during the last quarter. Finally, THB Asset Management purchased a new stake in H&E Equipment Services during the 1st quarter worth about $4,861,000. 73.02% 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. 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.

Further Reading: Neutral Rating

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