H&E Equipment Services (NASDAQ:HEES) Hits New 1-Year High – Here’s Why

H&E Equipment Services, Inc. (NASDAQ:HEES)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $90.76 and last traded at $89.61, with a volume of 585 shares. The stock had previously closed at $89.46.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group restated a “neutral” rating and issued a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research report on Friday, January 17th. B. Riley restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.25.

H&E Equipment Services Stock Performance

The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $3.28 billion, a PE ratio of 22.71 and a beta of 1.88. The firm’s 50-day simple moving average is $57.39 and its 200-day simple moving average is $52.02.

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

H&E Equipment Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s payout ratio is 27.92%.

Institutional Trading of H&E Equipment Services

Hedge funds have recently added to or reduced their stakes in the business. Access Financial Services Inc. grew its position in shares of H&E Equipment Services by 20.4% in the 4th quarter. Access Financial Services Inc. now owns 20,976 shares of the industrial products company’s stock worth $1,027,000 after buying an additional 3,555 shares during the last quarter. Geode Capital Management LLC lifted its position in H&E Equipment Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company’s stock valued at $36,762,000 after purchasing an additional 4,226 shares during the period. KG&L Capital Management LLC purchased a new stake in H&E Equipment Services in the third quarter valued at $542,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of H&E Equipment Services in the 2nd quarter valued at about $545,000. Finally, State Street Corp lifted its holdings in shares of H&E Equipment Services by 2.9% in the 3rd quarter. State Street Corp now owns 779,075 shares of the industrial products company’s stock valued at $37,925,000 after buying an additional 21,805 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

About H&E Equipment Services

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.