Citigroup Reaffirms Buy Rating for Herc (NYSE:HRI)

Herc (NYSE:HRI)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $140.00 price target on the transportation company’s stock, up from their prior price target of $130.00. Citigroup’s price objective would indicate a potential upside of 10.26% from the company’s previous close.

Several other research analysts have also issued reports on the company. Robert W. Baird dropped their price objective on Herc from $129.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Barclays reduced their target price on shares of Herc from $250.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $146.00 price target (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.20.

Herc Price Performance

NYSE HRI opened at $126.97 on Tuesday. The firm has a market cap of $3.62 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.68 and a beta of 1.88. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s 50-day moving average is $120.31 and its two-hundred day moving average is $152.28. Herc has a fifty-two week low of $96.19 and a fifty-two week high of $246.88.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($1.21). Herc had a return on equity of 24.10% and a net margin of 3.53%. The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $841.67 million. During the same quarter last year, the firm earned $2.36 earnings per share. On average, analysts anticipate that Herc will post 12.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Herc by 3.9% during the first quarter. Rhumbline Advisers now owns 42,982 shares of the transportation company’s stock worth $5,772,000 after buying an additional 1,601 shares during the last quarter. Strs Ohio acquired a new stake in Herc in the first quarter worth $779,000. Jacobi Capital Management LLC raised its stake in Herc by 16.2% during the 1st quarter. Jacobi Capital Management LLC now owns 2,717 shares of the transportation company’s stock worth $365,000 after buying an additional 379 shares during the period. Intech Investment Management LLC raised its position in shares of Herc by 42.2% during the first quarter. Intech Investment Management LLC now owns 16,738 shares of the transportation company’s stock worth $2,247,000 after purchasing an additional 4,971 shares during the period. Finally, Aristeia Capital L.L.C. bought a new position in shares of Herc in the first quarter valued at $225,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

About Herc

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.