H&E Equipment (HEES) shares ended the last trading session 7.5% higher at $53.41. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 14.1% gain over the past four weeks.
H&E Equipment shares gained on the announcement that it has opened a new branch in Ammon, ID, the third general rental equipment location in the state. The branch offers the rental of aerial lifts, earthmoving equipment, telescopic forklifts, compaction equipment, generators, light towers and compressors, among others.
The company aims to extend its coverage in Idaho and across the Wyoming state line to serve projects that are beyond reach for its existing branches in Boise, Belgrade, Montana and Ogden, UT.
In a year, H&E Equipment has opened 22 new branches across the country and acquired nine others. Its operations encompass 31 states.
This construction and industrial equipment service provider is expected to post quarterly earnings of $1 per share in its upcoming report, which represents a year-over-year change of -12.3%. Revenues are expected to be $388.68 million, up 7.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For H&E Equipment, the consensus EPS estimate for the quarter has been revised 1.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HEES going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
H&E Equipment is part of the Zacks Manufacturing – Construction and Mining industry. Caterpillar (CAT), another stock in the same industry, closed the last trading session 4.3% higher at $360.58. CAT has returned 7.3% in the past month.
For Caterpillar , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.58. This represents a change of +0.5% from what the company reported a year ago. Caterpillar currently has a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report