H&E Equipment Services (NASDAQ:HEES) Reaches New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

Separately, B. Riley reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.25.

H&E Equipment Services Stock Down 1.4 %

The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 8.97 and a beta of 1.88. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The stock has a 50 day moving average price of $55.65 and a 200 day moving average price of $51.02.

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

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s payout ratio is presently 27.92%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of H&E Equipment Services by 3.4% during the second quarter. Rhumbline Advisers now owns 46,691 shares of the industrial products company’s stock worth $2,062,000 after buying an additional 1,525 shares during the period. Federated Hermes Inc. boosted its position in H&E Equipment Services by 0.7% during the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock valued at $2,047,000 after acquiring an additional 326 shares during the last quarter. Renaissance Technologies LLC grew its holdings in H&E Equipment Services by 420.5% during the 2nd quarter. Renaissance Technologies LLC now owns 33,832 shares of the industrial products company’s stock worth $1,494,000 after acquiring an additional 27,332 shares during the period. Edgestream Partners L.P. bought a new position in shares of H&E Equipment Services in the 2nd quarter worth about $239,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in H&E Equipment Services during the second quarter worth approximately $545,000. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

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.