Herc (HRI) Price Target Lowered to $60.00 at Royal Bank of Canada

Herc (NYSE:HRI) had its target price lowered by Royal Bank of Canada to $60.00 in a report released on Friday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the transportation company’s stock.

Several other analysts have also issued reports on HRI. Buckingham Research raised Herc from a neutral rating to a buy rating and increased their target price for the stock from $67.00 to $70.00 in a report on Friday, July 13th. Barclays set a $60.00 target price on Herc and gave the stock a buy rating in a report on Friday. Northcoast Research raised Herc from a neutral rating to a buy rating and set a $49.00 target price on the stock in a report on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine lowered Herc from a hold rating to a sell rating in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered Herc from a buy rating to a hold rating in a report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $59.14.

HRI stock remained flat at $$38.04 during trading hours on Friday. The company’s stock had a trading volume of 646,088 shares, compared to its average volume of 386,025. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 4.48. The company has a market cap of $978.54 million, a PE ratio of -118.88 and a beta of 2.73. Herc has a 1 year low of $30.60 and a 1 year high of $72.99.

Herc (NYSE:HRI) last posted its quarterly earnings data on Thursday, November 8th. The transportation company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.67. The firm had revenue of $516.20 million for the quarter, compared to analysts’ expectations of $499.86 million. Herc had a return on equity of 3.55% and a net margin of 11.61%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. Equities research analysts expect that Herc will post 1.36 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Herc during the 2nd quarter worth $118,000. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Herc by 138.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 3,581 shares of the transportation company’s stock worth $202,000 after purchasing an additional 2,081 shares in the last quarter. Natixis acquired a new stake in Herc in the second quarter valued at about $203,000. Xact Kapitalforvaltning AB acquired a new stake in Herc in the first quarter valued at about $238,000. Finally, Sun Life Financial INC acquired a new stake in Herc in the second quarter valued at about $213,000. 94.37% of the stock is currently owned by institutional investors.

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.

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