10 Firms Post Impressive Gains on Tuesday

1. H&E Equipment Services, Inc. (HEES)

Shares of H&E Equipment (HEES) soared by 105.48 percent on Tuesday to close at $90.29 apiece following news that it is set to be acquired by United Rentals for approximately $4.8 billion.

Founded in 1961, H&E Equipment provides customers with a comprehensive mix of high-quality general rental fleets including aerial work platforms, earthmoving equipment, material handling equipment, and other general and specialty lines of equipment.

With approximately 2,900 employees and $2.9 billion of rental fleet at original cost, the company serves a diverse mix of customers across both construction and industrial markets through its network of approximately 160 branches in over 30 US states.

On a trailing 12-month basis through September 30, 2024, H&E Equipment generated $696 million of adjusted EBITDA on total revenues of $1.5 billion, translating to an adjusted EBITDA margin of approximately 45.8 percent.

While we acknowledge the potential of HEES as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HEES but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.