H&E Equipment Services (NASDAQ:HEES) Sets New 52-Week High – Time to Buy?

H&E Equipment Services, Inc. (NASDAQ:HEES) hit a new 52-week high during trading on Tuesday . The stock traded as high as $90.66 and last traded at $90.49, with a volume of 3845987 shares traded. The stock had previously closed at $43.94.

Analysts Set New Price Targets

Separately, B. Riley reaffirmed a “buy” rating and issued a $60.00 target price (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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.25.

H&E Equipment Services Trading Up 105.9 %

The stock has a market capitalization of $3.31 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 13.05 and a beta of 1.88. The stock’s fifty day moving average price is $54.27 and its two-hundred day moving average price is $50.43. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09.

H&E Equipment Services (NASDAQ:HEES) last issued its 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 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%. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts forecast that H&E Equipment Services, Inc. will post 3.27 EPS for the current year.

H&E Equipment Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.22%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. raised its position in shares of H&E Equipment Services by 0.7% in the 2nd quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 326 shares in the last quarter. Nisa Investment Advisors LLC grew its position in H&E Equipment Services by 7.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 555 shares during the period. Diversified Trust Co lifted its holdings in shares of H&E Equipment Services by 5.7% during the 4th quarter. Diversified Trust Co now owns 10,615 shares of the industrial products company’s stock valued at $520,000 after buying an additional 574 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of H&E Equipment Services by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 627 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in H&E Equipment Services by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 100,566 shares of the industrial products company’s stock valued at $4,896,000 after acquiring an additional 664 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

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.