Daiwa Securities Group Inc. boosted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 74.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,500 shares of the transportation company’s stock after buying an additional 33,900 shares during the period. Daiwa Securities Group Inc. owned approximately 0.28% of Herc worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Herc during the 2nd quarter valued at about $49,000. Quantamental Technologies LLC increased its position in Herc by 602.5% during the 2nd quarter. Quantamental Technologies LLC now owns 2,578 shares of the transportation company’s stock valued at $118,000 after buying an additional 2,211 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Herc during the 2nd quarter valued at about $153,000. Manchester Financial Inc. acquired a new position in Herc during the 2nd quarter valued at about $229,000. Finally, JPMorgan Chase & Co. increased its position in Herc by 13.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,621 shares of the transportation company’s stock valued at $304,000 after buying an additional 786 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors.
Shares of HRI stock opened at $49.97 on Friday. The stock’s 50-day simple moving average is $45.45 and its 200-day simple moving average is $43.04. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.44 billion, a PE ratio of 29.92, a P/E/G ratio of 0.69 and a beta of 3.39. Herc Holdings Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $50.75.
Herc (NYSE:HRI) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.31). The firm had revenue of $508.10 million during the quarter, compared to analyst estimates of $539.18 million. Herc had a net margin of 2.28% and a return on equity of 12.70%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. Sell-side analysts forecast that Herc Holdings Inc. will post 3.4 earnings per share for the current year.
Several research analysts recently issued reports on the company. ValuEngine lowered Herc from a “sell” rating to a “strong sell” rating in a research report on Friday, October 11th. Buckingham Research set a $70.00 target price on Herc and gave the company a “buy” rating in a research report on Friday, August 23rd. Goldman Sachs Group raised Herc from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $60.00 in a research report on Friday, September 20th. Zacks Investment Research lowered Herc from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Bank of America lowered Herc from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Herc presently has an average rating of “Hold” and an average price target of $57.00.
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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