H&E Equipment Services (NASDAQ:HEES) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other analysts also recently issued reports about the company. Zacks Investment Research raised H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine downgraded H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. UBS Group raised H&E Equipment Services from a “sell” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Wednesday, June 27th. Finally, Bank of America lowered their price objective on H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. H&E Equipment Services presently has an average rating of “Hold” and a consensus price target of $38.40.

HEES stock opened at $34.66 on Tuesday. H&E Equipment Services has a fifty-two week low of $25.70 and a fifty-two week high of $44.24. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.50 and a current ratio of 0.92. The company has a market cap of $1.24 billion, a P/E ratio of 9.96, a PEG ratio of 0.89 and a beta of 2.52.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.14. H&E Equipment Services had a return on equity of 42.25% and a net margin of 11.08%. The business had revenue of $310.40 million for the quarter, compared to the consensus estimate of $282.25 million. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. equities research analysts forecast that H&E Equipment Services will post 2.07 earnings per share for the current year.

In other news, CEO John Engquist sold 2,100 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $40.05, for a total value of $84,105.00. Following the completion of the sale, the chief executive officer now directly owns 2,512,191 shares of the company’s stock, valued at $100,613,249.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of H&E Equipment Services by 10.0% in the second quarter. BlackRock Inc. now owns 2,276,425 shares of the industrial products company’s stock worth $85,618,000 after purchasing an additional 206,553 shares during the last quarter. Bank of America Corp DE raised its stake in shares of H&E Equipment Services by 24.5% in the second quarter. Bank of America Corp DE now owns 984,337 shares of the industrial products company’s stock worth $37,021,000 after purchasing an additional 193,766 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of H&E Equipment Services by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 879,683 shares of the industrial products company’s stock valued at $33,859,000 after acquiring an additional 39,010 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of H&E Equipment Services by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 319,389 shares of the industrial products company’s stock valued at $12,013,000 after acquiring an additional 19,757 shares in the last quarter. Finally, SG Capital Management LLC grew its holdings in shares of H&E Equipment Services by 45.2% in the second quarter. SG Capital Management LLC now owns 294,642 shares of the industrial products company’s stock valued at $11,081,000 after acquiring an additional 91,684 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

Further Reading: Short Selling

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