Citigroup Cuts Herc (NYSE:HRI) Price Target to $165.00

Herc (NYSE:HRI) had its price target lowered by Citigroup from $185.00 to $165.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Barclays upped their price objective on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. KeyCorp cut their target price on shares of Herc from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Robert W. Baird decreased their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.43.

Herc Stock Performance

Shares of HRI stock opened at $115.44 on Monday. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -641.31, a P/E/G ratio of 15.50 and a beta of 1.73. Herc has a 1-year low of $96.18 and a 1-year high of $188.35. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 4.17. The stock’s fifty day simple moving average is $154.45 and its 200-day simple moving average is $141.56.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, topping 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 firm 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 business earned $3.58 EPS. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, sell-side analysts predict that Herc will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.4%. Herc’s dividend payout ratio is currently -1,555.56%.

Institutional Trading of Herc

A number of institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its stake in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake 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 valued at $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Herc in the 3rd quarter valued at $31,000. Advisory Services Network LLC acquired a new position in Herc during the third quarter worth $35,000. Finally, Smartleaf Asset Management LLC increased its position in Herc by 50.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after buying an additional 111 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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.