Zacks Investment Research upgraded shares of Herc (NYSE:HRI) from a hold rating to a strong-buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $41.00 price target 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. “
A number of other equities analysts have also commented on the company. ValuEngine raised Herc from a sell rating to a hold rating in a research note on Monday, June 1st. Robert W. Baird assumed coverage on Herc in a research note on Monday, June 8th. They issued an outperform rating and a $40.00 price target on the stock. Royal Bank of Canada reissued a buy rating and issued a $30.00 price target on shares of Herc in a research note on Monday, June 29th. Bank of America raised Herc from a neutral rating to a buy rating and set a $38.00 price target on the stock in a research note on Wednesday, July 8th. Finally, BofA Securities raised Herc from a neutral rating to a buy rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $42.33.
Herc stock opened at $33.54 on Wednesday. The stock’s 50 day moving average is $31.24 and its 200 day moving average is $30.74. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $976.35 million, a P/E ratio of 22.97, a P/E/G ratio of 14.01 and a beta of 3.14. Herc has a one year low of $11.81 and a one year high of $50.81.
Herc (NYSE:HRI) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.86. The company had revenue of $368.00 million for the quarter, compared to analyst estimates of $362.47 million. Herc had a return on equity of 14.53% and a net margin of 2.31%. The firm’s quarterly revenue was down 22.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities analysts anticipate that Herc will post 1.8 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRI. BlackRock Inc. increased its holdings in shares of Herc by 21.0% during the first quarter. BlackRock Inc. now owns 2,398,883 shares of the transportation company’s stock valued at $49,081,000 after acquiring an additional 415,688 shares in the last quarter. Norges Bank bought a new stake in shares of Herc during the fourth quarter valued at approximately $15,610,000. Gamco Investors INC. ET AL increased its holdings in shares of Herc by 5.1% during the first quarter. Gamco Investors INC. ET AL now owns 3,721,227 shares of the transportation company’s stock valued at $76,136,000 after acquiring an additional 180,670 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Herc during the fourth quarter valued at approximately $6,966,000. Finally, Man Group plc increased its holdings in shares of Herc by 109.9% during the fourth quarter. Man Group plc now owns 123,149 shares of the transportation company’s stock valued at $6,027,000 after acquiring an additional 64,468 shares in the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.
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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