H&E Equipment Services, Inc. (HEES) Can’t Be More Risky. The Stock Formed a Multiple Bottom Pattern

October 2, 2018 - By Richard Conner

Investors sentiment decreased to 0.8 in Q2 2018. Its down 0.25, from 1.05 in 2018Q1. It is negative, as 26 investors sold H&E Equipment Services, Inc. shares while 53 reduced holdings. 23 funds opened positions while 40 raised stakes. 26.46 million shares or 1.02% more from 26.19 million shares in 2018Q1 were reported.
Meeder Asset Mngmt has 1,353 shares. Moreover, Ajo Limited Partnership has 0.02% invested in H&E Equipment Services, Inc. (NASDAQ:HEES). 13,355 are held by Wellington Mngmt Gp Limited Liability Partnership. Hood River Capital owns 256,750 shares. Invesco Limited invested 0% in H&E Equipment Services, Inc. (NASDAQ:HEES). Bowling Port Mgmt Ltd Liability reported 18,749 shares. Bancorporation Of Montreal Can invested in 7,057 shares or 0% of the stock. Panagora Asset Mngmt accumulated 104 shares or 0% of the stock. Bokf Na invested 0.06% of its portfolio in H&E Equipment Services, Inc. (NASDAQ:HEES). Victory Mngmt Inc, Ohio-based fund reported 1.36M shares. Serv Automobile Association has 273,410 shares. Susquehanna Llp has invested 0% in H&E Equipment Services, Inc. (NASDAQ:HEES). Mutual Of America Limited Liability Com stated it has 0.06% of its portfolio in H&E Equipment Services, Inc. (NASDAQ:HEES). Great West Life Assurance Co Can holds 0% or 4,649 shares in its portfolio. Lifeplan Fincl Grp has invested 0.03% of its portfolio in H&E Equipment Services, Inc. (NASDAQ:HEES).

Since April 16, 2018, it had 0 buys, and 4 sales for $3.90 million activity.

The stock of H&E Equipment Services, Inc. (HEES) shows a multiple bottoms pattern with $34.11 target or 9.00 % below today’s $37.48 share price. The 7 months chart pattern indicates high risk for the $1.34 billion company. It was reported on Oct, 2 by Finviz.com. If the $34.11 price target is reached, the company will be worth $120.33 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 2.13% or $0.78 during the last trading session, reaching $37.48. About 193,899 shares traded. H&E Equipment Services, Inc. (NASDAQ:HEES) has risen 32.95% since October 2, 2017 and is uptrending. It has outperformed by 17.33% the S&P500.

Analysts await H&E Equipment Services, Inc. (NASDAQ:HEES) to report earnings on October, 25. They expect $0.62 EPS, down 18.42 % or $0.14 from last year’s $0.76 per share. HEES’s profit will be $22.12M for 15.11 P/E if the $0.62 EPS becomes a reality. After $0.58 actual EPS reported by H&E Equipment Services, Inc. for the previous quarter, Wall Street now forecasts 6.90 % EPS growth.

H&E Equipment Services, Inc. (NASDAQ:HEES) Ratings Coverage

Among 3 analysts covering H&E Equipment Services (NASDAQ:HEES), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. H&E Equipment Services has $46 highest and $4400 lowest target. $36’s average target is -3.95% below currents $37.48 stock price. H&E Equipment Services had 3 analyst reports since April 27, 2018 according to SRatingsIntel. The firm earned “Neutral” rating on Wednesday, June 27 by UBS. Buckingham Research maintained it with “Buy” rating and $4400 target in Friday, April 27 report. The firm has “Buy” rating by Bank of America given on Friday, July 27.

H&E Equipment Services, Inc. operates as an integrated equipment services company. The company has market cap of $1.34 billion. The firm rents, sells, and provides parts and service support for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It has a 10.79 P/E ratio. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

H&E Equipment Services, Inc. (NASDAQ:HEES) Institutional Positions Chart

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