KeyBanc Downgrades H&E Equipment Services (HEES) to Sector Weight

KeyBanc downgraded H&E Equipment Services (NASDAQ: HEES) from Overweight to Sector Weight. Analyst Joe Box is concerned about late cycle multiple compression.

"Recent high level rental contact discussions increasingly point toward a compressed equipment rental year; most factors appear to be transitory, suggesting absorption of excess equipment in 2H15 and better rental dynamics in 2016; better prospects in 2016 and solid FCF optionality from group enticing and likely to create trading opportunities, but potential for the group to face late cycle multiple compression indicates balanced risk/reward; reducing URI and HEES from OW to SW," said Box.

For an analyst ratings summary and ratings history on H&E Equipment Services click here. For more ratings news on H&E Equipment Services click here.

Shares of H&E Equipment Services closed at $19.97 yesterday.

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