H&E Equipment Services, Inc. (NASDAQ:HEES) is among the top gainers of the stock market today, skyrocketing 15.12% or (1.94 points) to $14.77 from its previous close of $12.83. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 239359 contracts so far this session. HEES shares had a relatively better volume day versus average trading capacity of 331 thousand shares, but with a 31.71 million float and a 34.35% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HEES stock indicates that the average analyst price target is $27.33 per share. This means the stock has a potential increase of 85.04% from where the HEES share price has been trading recently.
During the recent trading session for H&E Equipment Services, Inc. (NASDAQ:HEES), the company witnessed their stock rise $3.47 over a week and tumble down $-9.16 from the price 20 days ago. When compared to their established 52-week high of $37.85, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/11/19. The recent low of $9.12 stood for a -60.98% since 03/19/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.85 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for H&E Equipment Services, Inc., the two-week RSI stands at 39.45. This figure suggests that HEES stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HEES readings is similarly very revealing as it has a stochastic reading of 32.84% at this stage. This figure means that HEES share price today is being neutral.
Technical chart claims that H&E Equipment Services, Inc. (HEES) would settle between $13.69/share to $14.55/share level. However, if the stock price goes below the $11.65 mark, then the market for H&E Equipment Services, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.47 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lowered their recommendation on shares of HEES from Buy to Neutral in their opinion released on November 14. BofA/Merrill analysts again handed out a Buy recommendation to H&E Equipment Services, Inc. (NASDAQ:HEES) stock but they lifted target price for the shares in a flash note issued to investors on April 29. The target price has been raised from $32 to $35. Analysts at Longbow, made their first call for the equity with a Buy recommendation, according to a research note that dated back to March 29.
HEES equity has an average rating of 2.25, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated H&E Equipment Services, Inc. (NASDAQ:HEES) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, HEES stock price is currently trading at 4.9X forward 12-month Consensus EPS estimates, and its P/E ratio is 5.3 while for the average stock in the same group, the multiple is 8.6. H&E Equipment Services, Inc. current P/B ratio of 1.5 means it is trading at a premium against its industry’s 1.1.