Brokerages Set H&E Equipment Services, Inc. (NASDAQ:HEES) Target Price at $61.67

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $61.67.

HEES has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. KeyCorp initiated coverage on H&E Equipment Services in a report on Friday, August 9th. They issued a “sector weight” rating for the company. 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 report on Wednesday, August 14th. Finally, Raymond James initiated coverage on H&E Equipment Services in a report on Friday, June 28th. They issued a “market perform” rating for the company.

Institutional Trading of H&E Equipment Services

A number of hedge funds have recently made changes to their positions in HEES. American Century Companies Inc. lifted its position in shares of H&E Equipment Services by 104.6% in the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock valued at $62,304,000 after buying an additional 721,270 shares during the last quarter. Norges Bank acquired a new stake in shares of H&E Equipment Services in the fourth quarter valued at approximately $11,827,000. Loews Corp acquired a new stake in shares of H&E Equipment Services in the second quarter valued at approximately $5,742,000. Castleark Management LLC acquired a new stake in shares of H&E Equipment Services in the first quarter valued at approximately $7,046,000. Finally, Millennium Management LLC lifted its position in shares of H&E Equipment Services by 200.6% in the second quarter. Millennium Management LLC now owns 133,554 shares of the industrial products company’s stock valued at $5,899,000 after buying an additional 89,128 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

H&E Equipment Services Trading Up 2.9 %

NASDAQ HEES opened at $46.17 on Wednesday. The stock has a 50-day simple moving average of $47.36 and a 200 day simple moving average of $50.66. The company has a market capitalization of $1.69 billion, a PE ratio of 9.89, a P/E/G ratio of 9.16 and a beta of 1.85. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. H&E Equipment Services has a 12 month low of $38.06 and a 12 month high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The company had revenue of $376.30 million during the quarter, compared to the consensus estimate of $382.05 million. H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. Research analysts forecast that H&E Equipment Services will post 3.52 EPS for the current year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, August 28th. This represents a $1.10 annualized dividend and a yield of 2.38%. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.

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.