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

H&E Equipment Services, Inc. (NASDAQ:HEES) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 1,250,000 shares, a growth of 8.7% from the November 30th total of 1,150,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average trading volume of 263,900 shares, the short-interest ratio is presently 4.7 days.

H&E Equipment Services Stock Performance

H&E Equipment Services stock opened at $48.96 on Thursday. H&E Equipment Services has a twelve month low of $40.92 and a twelve month high of $66.18. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $1.79 billion, a P/E ratio of 12.43, a PEG ratio of 13.05 and a beta of 1.84. The stock’s 50 day moving average is $55.41 and its 200 day moving average is $50.23.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.15). The company had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. H&E Equipment Services’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities research analysts predict that H&E Equipment Services will post 3.27 earnings per share for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 2.25%. H&E Equipment Services’s dividend payout ratio (DPR) is presently 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

A number of institutional investors have recently made changes to their positions in HEES. Point72 Asia Singapore Pte. Ltd. bought a new position in H&E Equipment Services in the 2nd quarter valued at approximately $37,000. Meeder Asset Management Inc. purchased a new stake in shares of H&E Equipment Services during the second quarter valued at $65,000. Millburn Ridgefield Corp purchased a new stake in shares of H&E Equipment Services during the third quarter valued at $84,000. Quest Partners LLC bought a new position in H&E Equipment Services during the 2nd quarter valued at about $109,000. Finally, Scientech Research LLC bought a new position in H&E Equipment Services during the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley reaffirmed a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, H&E Equipment Services has a consensus rating of “Moderate Buy” and a consensus price target of $61.25.

H&E Equipment Services Company Profile

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.