H&E Equipment Services (NASDAQ:HEES) Sees Unusually-High Trading Volume – What’s Next?

H&E Equipment Services, Inc. (NASDAQ:HEES) saw an uptick in trading volume on Wednesday . 2,090,155 shares changed hands during trading, an increase of 14% from the previous session’s volume of 1,835,717 shares.The stock last traded at $89.54 and had previously closed at $90.29.

Wall Street Analyst Weigh In

HEES has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating and set a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday. B. Riley reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, H&E Equipment Services currently has an average rating of “Hold” and an average target price of $69.25.

H&E Equipment Services Price Performance

The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The firm’s 50-day moving average price is $56.26 and its 200-day moving average price is $51.28. The stock has a market capitalization of $3.25 billion, a PE ratio of 22.53, a PEG ratio of 8.97 and a beta of 1.88.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly 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 the consensus estimate of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. On average, equities analysts forecast that H&E Equipment Services, Inc. will post 3.27 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given 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 yield of 1.24%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Hedge Funds Weigh In On H&E Equipment Services

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in H&E Equipment Services in the 2nd quarter worth approximately $37,000. Millburn Ridgefield Corp purchased a new stake in H&E Equipment Services during the 3rd quarter worth approximately $84,000. Scientech Research LLC purchased a new stake in shares of H&E Equipment Services during the second quarter worth $203,000. Point72 Asset Management L.P. raised its stake in shares of H&E Equipment Services by 43.8% in the second quarter. Point72 Asset Management L.P. now owns 4,600 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 1,400 shares in the last quarter. Finally, L.M. Kohn & Company acquired a new position in H&E Equipment Services during the 3rd quarter worth $217,000. Hedge funds and other 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.