H&E Equipment Services (NASDAQ:HEES) Shares Gap Down – What’s Next?

H&E Equipment Services, Inc. (NASDAQ:HEES)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $56.59, but opened at $53.53. H&E Equipment Services shares last traded at $52.68, with a volume of 9,427 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. KeyCorp started coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating for the company. Stifel Nicolaus cut 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. Finally, UBS Group reduced their price objective on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.67.

H&E Equipment Services Trading Down 7.0 %

The stock has a market cap of $1.92 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 11.71 and a beta of 1.84. The company’s 50-day moving average price is $48.60 and its 200 day moving average price is $48.52. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 0.61.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The business had revenue of $376.30 million for the quarter, compared to analyst estimates of $382.05 million. During the same period last year, the business earned $1.14 EPS. H&E Equipment Services’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.52 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $0.275 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.10 annualized dividend and a yield of 2.09%. H&E Equipment Services’s dividend payout ratio (DPR) is currently 23.55%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Americana Partners LLC acquired a new stake in shares of H&E Equipment Services in the third quarter valued at $283,000. abrdn plc grew its position in H&E Equipment Services by 5.2% in the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after acquiring an additional 16,681 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 valued at $408,000 after acquiring an additional 555 shares in the last quarter. Semanteon Capital Management LP increased its stake in H&E Equipment Services by 230.1% during the third quarter. Semanteon Capital Management LP now owns 21,103 shares of the industrial products company’s stock worth $1,027,000 after purchasing an additional 14,710 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of H&E Equipment Services during the third quarter worth about $580,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

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.