Herc (NYSE:HRI) Price Target Lowered to $185.00 at Citigroup

Herc (NYSE:HRI) had its price objective reduced by Citigroup from $195.00 to $185.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Herc from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Wells Fargo & Company boosted their target price on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Barclays lifted their price objective on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird cut their price objective on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.29.

Herc Stock Performance

Shares of NYSE HRI traded up $3.00 during trading hours on Thursday, reaching $146.59. The stock had a trading volume of 211,775 shares, compared to its average volume of 562,557. The firm has a 50-day moving average of $159.83 and a 200-day moving average of $139.90. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -816.64, a PEG ratio of 1.37 and a beta of 1.77. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 4.17. Herc has a fifty-two week low of $96.18 and a fifty-two week high of $188.35.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company earned $3.58 earnings per share. The company’s revenue was up 27.1% compared to the same quarter last year. Equities research analysts predict that Herc will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.9%. Herc’s dividend payout ratio (DPR) is currently -111.11%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in Herc by 4.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock valued at $239,000 after purchasing an additional 72 shares during the last quarter. AlphaQuest LLC boosted its holdings in Herc by 20.3% in the third quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 74 shares during the last quarter. Midwest Financial Group LLC grew its position in Herc by 3.6% during the fourth quarter. Midwest Financial Group LLC now owns 2,153 shares of the transportation company’s stock valued at $319,000 after acquiring an additional 75 shares during the period. Wealthspire Advisors LLC increased its stake in Herc by 2.8% during the fourth quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock worth $403,000 after acquiring an additional 75 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Herc by 53.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Company Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.