Herc (NYSE:HRI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Herc (NYSE:HRI) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $50.00 price objective on the transportation company’s stock.

According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “

HRI has been the topic of a number of other research reports. TheStreet cut shares of The Providence Service from a b- rating to a c+ rating in a research note on Friday, June 28th. ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Longbow Research started coverage on shares of H&E Equipment Services in a research note on Friday, March 29th. They set a buy rating and a $34.00 target price on the stock. Finally, Bank of America decreased their target price on shares of Micron Technology from $50.00 to $43.00 and set a buy rating on the stock in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Herc has an average rating of Buy and a consensus target price of $55.86.

Shares of HRI opened at $45.20 on Tuesday. Herc has a one year low of $24.16 and a one year high of $61.01. The firm has a market capitalization of $1.27 billion, a P/E ratio of 27.07, a P/E/G ratio of 0.44 and a beta of 3.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 4.02. The company’s 50 day moving average price is $40.92.

Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, May 2nd. The transportation company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.05. Herc had a net margin of 3.59% and a return on equity of 12.16%. The business had revenue of $475.70 million during the quarter, compared to the consensus estimate of $455.90 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Herc will post 3.21 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. QS Investors LLC grew its stake in shares of Herc by 69.3% in the fourth quarter. QS Investors LLC now owns 92,737 shares of the transportation company’s stock worth $2,411,000 after purchasing an additional 37,975 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Herc by 206.6% in the fourth quarter. Deutsche Bank AG now owns 234,318 shares of the transportation company’s stock worth $6,089,000 after purchasing an additional 157,882 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Herc by 507.3% in the fourth quarter. Squarepoint Ops LLC now owns 44,938 shares of the transportation company’s stock worth $1,168,000 after purchasing an additional 37,538 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Herc by 113.8% in the fourth quarter. Two Sigma Advisers LP now owns 199,964 shares of the transportation company’s stock worth $5,197,000 after purchasing an additional 106,449 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Herc in the fourth quarter worth $8,291,000. 92.74% of the stock is currently owned by institutional investors.

Herc Company Profile

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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