Is H&E Equipment Services, Inc. (HEES) Among Tuesday’s Top Gainers?

We recently published an article titled 10 Firms Post Impressive Gains on Tuesday. In this article, we are going to take a look at where H&E Equipment Services, Inc. (NASDAQ:HEES) stands against the other firms.

Ten companies posted significant gains on Tuesday, mirroring the upward movement of two key Wall Street indices. The Dow Jones Industrial Average rose by 0.52%, while the S&P 500 edged up by 0.11%.

A combination of positive catalysts—including strategic partnerships, strong earnings reports, and favorable analyst outlooks—helped drive their performance. In this article, we highlight the top 10 gainers and explore the factors behind their impressive gains.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A crane rental operator loading parts onto a construction site in an industrial area.

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

Shares of H&E Equipment Services, Inc. (NASDAQ: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 Services, Inc. (NASDAQ:HEES) 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.

Overall HEES ranks 1st on our list of Tuesday’s top gainers. 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.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

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