H&E Equipment Services (NASDAQ:HEES) Sets New 12-Month High – Still a Buy?

H&E Equipment Services, Inc. (NASDAQ:HEES)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $99.28 and last traded at $97.80, with a volume of 468359 shares changing hands. The stock had previously closed at $87.56.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HEES shares. B. Riley reiterated a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. StockNews.com started coverage on shares of H&E Equipment Services in a research note on Monday. They set a “hold” rating on the stock. Finally, UBS Group reissued a “neutral” rating and set 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.25.

H&E Equipment Services Price Performance

The company’s 50 day moving average price is $70.84 and its 200-day moving average price is $58.10. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 25.47 and a beta of 1.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64.

H&E Equipment Services Dividend Announcement

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

Hedge Funds Weigh In On H&E Equipment Services

Several hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in shares of H&E Equipment Services by 17.8% in 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 position in shares of H&E Equipment Services in the third quarter worth about $84,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of H&E Equipment Services by 227.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,910 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of H&E Equipment Services by 38.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock worth $190,000 after buying an additional 1,166 shares during the period. Finally, L.M. Kohn & Company acquired a new position in shares of H&E Equipment Services in the third quarter worth about $217,000. Institutional investors and hedge funds 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.