StockNews.com Initiates Coverage on H&E Equipment Services (NASDAQ:HEES)

Investment analysts at StockNews.com initiated coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the industrial products company’s stock.

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

H&E Equipment Services Price Performance

HEES stock opened at $100.62 on Monday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 25.54 and a beta of 1.93. The firm’s 50-day moving average price is $69.10 and its two-hundred day moving average price is $57.42. 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 has a 12-month low of $40.92 and a 12-month high of $101.26.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HEES. Creative Planning bought a new position in H&E Equipment Services in the third quarter worth $254,000. Jade Capital Advisors LLC bought a new position in shares of H&E Equipment Services in the 3rd quarter worth about $1,217,000. Assenagon Asset Management S.A. lifted its position in H&E Equipment Services by 186.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 194,102 shares of the industrial products company’s stock valued at $9,449,000 after acquiring an additional 126,244 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new stake in H&E Equipment Services during the third quarter worth about $580,000. Finally, Semanteon Capital Management LP grew its holdings in H&E Equipment Services by 230.1% in 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. 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 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.