H&E Equipment Services, Inc. (NASDAQ:HEES) Sees Large Growth in Short Interest

H&E Equipment Services, Inc. (NASDAQ:HEES) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,220,000 shares, a growth of 142.1% from the January 15th total of 1,330,000 shares. Based on an average daily volume of 729,700 shares, the days-to-cover ratio is currently 4.4 days. Approximately 10.1% of the company’s shares are sold short.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. StockNews.com initiated coverage on H&E Equipment Services in a report on Sunday, February 9th. They issued a “hold” rating on the stock. Finally, UBS Group restated a “neutral” rating and set a $92.00 target price (up from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.25.

H&E Equipment Services Stock Performance

NASDAQ:HEES opened at $87.56 on Friday. H&E Equipment Services has a 52 week low of $40.92 and a 52 week high of $90.66. The company has a fifty day simple moving average of $68.00 and a two-hundred day simple moving average of $56.82. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 22.22 and a beta of 1.93.

H&E Equipment Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.10 annualized dividend and a yield of 1.26%. H&E Equipment Services’s payout ratio is 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

A number of hedge funds have recently bought and sold shares of HEES. Meeder Asset Management Inc. increased its stake in shares of H&E Equipment Services by 17.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock worth $71,000 after buying an additional 220 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of H&E Equipment Services in the 3rd quarter valued at $84,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of H&E Equipment Services by 227.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 1,910 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of H&E Equipment Services by 38.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 1,166 shares in the last quarter. Finally, L.M. Kohn & Company purchased a new position in H&E Equipment Services in the third quarter valued at $217,000. Institutional investors and hedge funds 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.