H&E Equipment Services, Inc. (NASDAQ:HEES) Receives $61.25 Consensus Price Target from Brokerages

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $61.25.

A number of brokerages recently issued reports on HEES. UBS Group lowered their price target on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. B. Riley reissued a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. KeyCorp started coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus reduced 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 research report on Wednesday, July 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in shares of H&E Equipment Services by 104.6% in the 2nd quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after purchasing an additional 721,270 shares during the period. Loews Corp bought a new stake in H&E Equipment Services during the 2nd quarter valued at $5,742,000. Assenagon Asset Management S.A. increased its holdings in shares of H&E Equipment Services by 186.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 194,102 shares of the industrial products company’s stock valued at $9,449,000 after acquiring an additional 126,244 shares during the period. Castleark Management LLC bought a new position in shares of H&E Equipment Services in the 1st quarter worth $7,046,000. Finally, Millennium Management LLC lifted its stake in shares of H&E Equipment Services by 200.6% during the 2nd quarter. Millennium Management LLC now owns 133,554 shares of the industrial products company’s stock worth $5,899,000 after purchasing an additional 89,128 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

H&E Equipment Services Price Performance

H&E Equipment Services stock opened at $50.23 on Thursday. H&E Equipment Services has a 52-week low of $40.92 and a 52-week high of $66.18. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The firm’s fifty day moving average is $49.09 and its 200 day moving average is $48.24. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 11.93 and a beta of 1.82.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. During the same period in the previous year, the business posted $1.46 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. Sell-side analysts forecast that H&E Equipment Services will post 3.34 EPS for the current fiscal year.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.10 annualized dividend and a yield of 2.19%. H&E Equipment Services’s payout ratio is currently 27.92%.

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.