Herc (NYSE:HRI) Trading Up 8.5% After Analyst Upgrade

Herc Holdings Inc. (NYSE:HRIGet Free Report) rose 8.5% on Tuesday after Citigroup raised their price target on the stock from $130.00 to $140.00. Citigroup currently has a buy rating on the stock. Herc traded as high as $123.85 and last traded at $127.05. Approximately 86,033 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 391,685 shares. The stock had previously closed at $117.09.

A number of other equities research analysts have also commented on HRI. Barclays reduced their price target on 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 reaffirmed a “buy” rating and set a $146.00 price target (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price target on Herc from $129.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Herc currently has an average rating of “Moderate Buy” and an average target price of $139.20.

View Our Latest Analysis on Herc

Institutional Investors Weigh In On Herc

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock valued at $35,000 after buying an additional 167 shares during the period. Larson Financial Group LLC lifted its stake in Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company’s stock worth $41,000 after purchasing an additional 293 shares during the last quarter. Quarry LP boosted its holdings in shares of Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company’s stock worth $42,000 after purchasing an additional 194 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock worth $44,000 after purchasing an additional 80 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Herc in the 4th quarter worth about $59,000. Institutional investors own 93.11% of the company’s stock.

Herc Price Performance

The business has a fifty day moving average price of $120.31 and a 200-day moving average price of $152.28. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.04. The stock has a market capitalization of $3.62 billion, a PE ratio of 28.28, a PEG ratio of 1.68 and a beta of 1.88.

Herc (NYSE:HRIGet Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share (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 firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $841.67 million. During the same quarter in the previous year, the company posted $2.36 earnings per share. Research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, May 30th. Herc’s payout ratio is currently 62.36%.

About Herc

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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.

Further Reading

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