H&E Equipment Services (NASDAQ:HEES) Reaches New 52-Week High – Still a Buy?

H&E Equipment Services, Inc. (NASDAQ:HEES)’s share 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. The stock had previously closed at $87.56.

Analysts Set New Price Targets

A number of analysts have issued reports on HEES shares. StockNews.com started coverage on shares of H&E Equipment Services in a research report on Monday. They set a “hold” rating on the stock. UBS Group reiterated a “neutral” rating and issued a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Finally, B. Riley restated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, H&E Equipment Services presently has a consensus rating of “Hold” and an average target price of $69.25.

H&E Equipment Services Price Performance

The company’s 50-day moving average is $69.10 and its 200-day moving average is $57.42. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 25.54 and a beta of 1.93. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09.

H&E Equipment Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.10 annualized dividend and a dividend yield of 1.09%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. grew its holdings in shares of H&E Equipment Services by 17.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 220 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of H&E Equipment Services during the third quarter worth $84,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of H&E Equipment Services by 227.7% during 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 in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of H&E Equipment Services by 38.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 1,166 shares during the last quarter. Finally, L.M. Kohn & Company acquired a new stake in shares of H&E Equipment Services during the 3rd quarter valued at $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.