H&E Equipment Services (NASDAQ:HEES) Shares Gap Down - Here's Why

H&E Equipment Services, Inc. (NASDAQ:HEES - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $56.59, but opened at $53.53. H&E Equipment Services shares last traded at $52.68, with a volume of 9,427 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HEES shares. UBS Group decreased their price target on H&E Equipment Services from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus decreased their target price on shares of H&E Equipment Services from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Finally, KeyCorp began coverage on H&E Equipment Services in a research note on Friday, August 9th. They issued a "sector weight" rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.67.

H&E Equipment Services Stock Down 6.3 %

The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $1.94 billion, a PE ratio of 11.36, a P/E/G ratio of 11.71 and a beta of 1.84. The stock's fifty day simple moving average is $48.60 and its 200-day simple moving average is $48.52.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.15). The company had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.52 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, August 28th. H&E Equipment Services's dividend payout ratio is currently 23.55%.

Hedge Funds Weigh In On H&E Equipment Services

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC grew its position in H&E Equipment Services by 42.5% during the 2nd quarter. CWM LLC now owns 932 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the last quarter. Federated Hermes Inc. lifted its holdings in H&E Equipment Services by 0.7% in the 2nd quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company's stock worth $2,047,000 after buying an additional 326 shares during the period. ProShare Advisors LLC boosted its holdings in H&E Equipment Services by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,781 shares of the industrial products company's stock valued at $371,000 after acquiring an additional 454 shares in the last quarter. Diversified Trust Co raised its stake in H&E Equipment Services by 5.3% in the second quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company's stock worth $443,000 after buying an additional 503 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of H&E Equipment Services by 7.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company's stock valued at $408,000 after purchasing an additional 555 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.