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

Research analysts at StockNews.com assumed coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a report released on Sunday. The firm set a “hold” rating on the industrial products company’s stock.

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

H&E Equipment Services Stock Down 0.7 %

NASDAQ:HEES opened at $86.80 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market capitalization of $3.18 billion, a P/E ratio of 22.03 and a beta of 1.93. The company’s 50-day simple moving average is $65.73 and its 200-day simple moving average is $55.91. H&E Equipment Services has a fifty-two week low of $40.92 and a fifty-two week high of $90.66.

Institutional Investors Weigh In On H&E Equipment Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of H&E Equipment Services by 1,238.8% in the fourth quarter. Victory Capital Management Inc. now owns 689,911 shares of the industrial products company’s stock worth $33,778,000 after buying an additional 638,379 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in H&E Equipment Services in the 4th quarter worth approximately $28,780,000. Fisher Asset Management LLC grew its stake in shares of H&E Equipment Services by 77.1% during the 4th quarter. Fisher Asset Management LLC now owns 348,656 shares of the industrial products company’s stock worth $17,070,000 after purchasing an additional 151,761 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of 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 purchasing an additional 126,244 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in shares of H&E Equipment Services during the 4th quarter valued at approximately $5,809,000. 84.08% of the stock is owned by institutional investors and hedge funds.

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.