Herc Holdings Inc. (NYSE:HRI) Receives $164.86 Consensus PT from Analysts

Herc Holdings Inc. (NYSE:HRI) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $164.8571.

A number of brokerages recently issued reports on HRI. Citigroup boosted their target price on shares of Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. KeyCorp cut their price objective on shares of Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 10th.

Herc Stock Performance

HRI traded down $6.83 during midday trading on Tuesday, reaching $128.85. The company’s stock had a trading volume of 253,292 shares, compared to its average volume of 595,728. The stock has a market cap of $4.30 billion, a P/E ratio of -477.63, a PEG ratio of 24.43 and a beta of 1.88. The company has a fifty day simple moving average of $138.41 and a 200 day simple moving average of $137.68. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc has a twelve month low of $88.45 and a twelve month high of $188.35.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. Research analysts expect that Herc will post 5.31 earnings per share for the current year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.2%. Herc’s dividend payout ratio is -1,037.04%.

Institutional Trading of Herc

Several institutional investors have recently modified their holdings of HRI. AQR Capital Management LLC lifted its position in Herc by 176.9% in the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock worth $3,462,000 after purchasing an additional 16,470 shares during the period. Goldman Sachs Group Inc. increased its holdings in Herc by 25.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock valued at $35,337,000 after buying an additional 53,054 shares during the period. Cetera Investment Advisers bought a new stake in Herc in the 2nd quarter valued at $267,000. Federated Hermes Inc. raised its stake in shares of Herc by 12,425.7% in the 2nd quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock valued at $2,755,000 after buying an additional 20,751 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Herc by 9.0% in the 2nd quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock valued at $7,075,000 after buying an additional 4,451 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

About Herc

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.