Short Interest in H&E Equipment Services, Inc. (NASDAQ:HEES) Decreases By 19.4%

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H&E Equipment Services, Inc. (NASDAQ:HEES) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 966,100 shares, a decrease of 19.4% from the July 15th total of 1,197,900 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average trading volume of 211,000 shares, the short-interest ratio is currently 4.6 days.

Shares of HEES traded down $1.40 during midday trading on Tuesday, reaching $22.78. 158,540 shares of the stock were exchanged, compared to its average volume of 225,370. The firm has a 50 day simple moving average of $26.92 and a 200-day simple moving average of $27.45. The company has a quick ratio of 0.43, a current ratio of 0.69 and a debt-to-equity ratio of 3.43. H&E Equipment Services has a 12-month low of $18.12 and a 12-month high of $39.33. The company has a market cap of $859.74 million, a price-to-earnings ratio of 10.69, a P/E/G ratio of 0.91 and a beta of 2.86.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, July 25th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. H&E Equipment Services had a return on equity of 32.17% and a net margin of 6.33%. The firm had revenue of $333.60 million for the quarter, compared to analyst estimates of $337.96 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Research analysts expect that H&E Equipment Services will post 2.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Monday, August 26th. H&E Equipment Services’s payout ratio is presently 51.64%.

Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in H&E Equipment Services by 30.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,736 shares of the industrial products company’s stock valued at $80,000 after buying an additional 636 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in H&E Equipment Services in the 2nd quarter valued at $91,000. BNP Paribas Arbitrage SA boosted its stake in H&E Equipment Services by 215.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,338 shares of the industrial products company’s stock valued at $184,000 after buying an additional 5,011 shares in the last quarter. SG Americas Securities LLC acquired a new stake in H&E Equipment Services in the 1st quarter valued at $213,000. Finally, Envestnet Asset Management Inc. acquired a new stake in H&E Equipment Services in the 2nd quarter valued at $213,000. 71.56% of the stock is currently owned by institutional investors and hedge funds.

HEES has been the subject of several research analyst reports. ValuEngine raised H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. BidaskClub downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Bank of America reaffirmed a “buy” rating and set a $35.00 price target (up from $32.00) on shares of H&E Equipment Services in a research note on Monday, April 29th. Finally, Zacks Investment Research raised H&E Equipment Services from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Saturday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. H&E Equipment Services presently has a consensus rating of “Hold” and a consensus target price of $30.80.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Repair and Maintenance Services. It rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks.

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