Herc (NYSE:HRI) Upgraded at Zacks Research

Herc (NYSE:HRI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. KeyCorp lowered their target price on Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, March 16th. JPMorgan Chase & Co. lowered their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Citigroup increased their price objective on Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings lowered Herc from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 21st. Finally, Robert W. Baird cut their target price on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.67.

Herc Stock Down 5.3%

Shares of Herc stock opened at $141.98 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. The firm has a market cap of $4.74 billion, a P/E ratio of -525.84, a P/E/G ratio of 27.14 and a beta of 1.89. Herc has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The business has a 50-day moving average price of $122.73 and a 200 day moving average price of $137.15.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.42. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.Herc’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. On average, sell-side analysts forecast that Herc will post 5.31 earnings per share for the current fiscal year.

Institutional Trading of Herc

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock valued at $481,040,000 after purchasing an additional 413,719 shares in the last quarter. Norges Bank purchased a new stake in shares of Herc in the fourth quarter valued at $287,269,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Herc by 86,823.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after purchasing an additional 1,333,602 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Herc by 8.1% in the third quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock valued at $151,889,000 after purchasing an additional 97,235 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Herc by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company’s stock valued at $115,872,000 after purchasing an additional 170,189 shares in the last quarter. Hedge funds and other institutional investors 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.