H&E Equipment Services, Inc. (NASDAQ:HEES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “H&E Equipment Services, Inc. is one of the largest integrated equipment services companies in the United States with full-service facilities throughout the Intermountain, Southwest, Gulf Coast & Southeast regions of the United States. The Company is focused on heavy construction & industrial equipment and rents, sells & provides parts & service support for four core categories of specialized equipment they are hi-lift or aerial platform equipment, cranes, earthmoving equipment & industrial lift trucks. By providing equipment rental, sales, & on-site parts, repair & maintenance functions under one roof, the Company is a one-stop provider for its customers’ varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal & provides cross-selling opportunities among its new & used equipment sales, rental, parts sales & service operations. “

A number of other research analysts have also recently commented on HEES. ValuEngine cut H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub cut H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Bank of America Corporation began coverage on H&E Equipment Services in a research note on Tuesday, September 26th. They issued a “buy” rating and a $33.00 target price for the company. Royal Bank Of Canada restated a “buy” rating on shares of H&E Equipment Services in a research note on Friday, July 28th. Finally, UBS AG restated a “sell” rating and issued a $16.00 target price (up previously from $15.00) on shares of H&E Equipment Services in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. H&E Equipment Services has an average rating of “Hold” and a consensus target price of $26.25.

H&E Equipment Services (NASDAQ HEES) traded down 1.16% during midday trading on Wednesday, hitting $29.80. The stock had a trading volume of 149,854 shares. The firm’s 50-day moving average price is $25.10 and its 200 day moving average price is $22.42. The company has a market cap of $1.05 billion, a P/E ratio of 26.87 and a beta of 2.65. H&E Equipment Services has a 12 month low of $12.72 and a 12 month high of $30.21.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The company had revenue of $249.40 million during the quarter, compared to analysts’ expectations of $237.81 million. H&E Equipment Services had a return on equity of 27.93% and a net margin of 4.08%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, analysts expect that H&E Equipment Services will post $1.19 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/04/he-equipment-services-inc-hees-downgraded-to-hold-at-zacks-investment-research.html.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in H&E Equipment Services by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,758,022 shares of the industrial products company’s stock valued at $56,292,000 after buying an additional 100,243 shares during the last quarter. Macquarie Group Ltd. raised its stake in H&E Equipment Services by 12.4% during the second quarter. Macquarie Group Ltd. now owns 2,391,042 shares of the industrial products company’s stock valued at $48,801,000 after buying an additional 263,383 shares during the last quarter. Victory Capital Management Inc. raised its stake in H&E Equipment Services by 49.5% during the second quarter. Victory Capital Management Inc. now owns 2,287,033 shares of the industrial products company’s stock valued at $46,678,000 after buying an additional 757,427 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in H&E Equipment Services by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,665,343 shares of the industrial products company’s stock valued at $33,989,000 after buying an additional 34,766 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in H&E Equipment Services by 25.0% during the second quarter. Alliancebernstein L.P. now owns 1,539,181 shares of the industrial products company’s stock valued at $31,415,000 after buying an additional 307,979 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.

Get a free copy of the Zacks research report on H&E Equipment Services (HEES)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for H&E Equipment Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for H&E Equipment Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.