Citigroup Has Lowered Expectations for Herc (NYSE:HRI) Stock Price

Herc (NYSE:HRI) had its target price cut by equities research analysts at Citigroup from $195.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price target points to a potential upside of 28.31% from the company’s current price.

Several other brokerages also recently commented on HRI. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Wall Street Zen upgraded Herc from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Wells Fargo & Company boosted their price objective on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Barclays increased their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, KeyCorp dropped their price objective on shares of Herc from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Herc currently has an average rating of “Moderate Buy” and a consensus price target of $178.29.

Herc Trading Down 2.0%

HRI stock traded down $2.96 during mid-day trading on Thursday, reaching $144.19. The company’s stock had a trading volume of 460,076 shares, compared to its average volume of 564,282. Herc has a 12 month low of $96.18 and a 12 month high of $188.35. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 4.28. The business’s 50 day moving average price is $160.02 and its 200 day moving average price is $139.88. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -801.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.77.

Herc (NYSE:HRI) last released its earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.25 billion. Herc had a net margin of 0.02% and a return on equity of 13.62%. Herc’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.58 EPS. On average, equities research analysts predict that Herc will post 12.84 EPS for the current year.

Institutional Trading of Herc

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in Herc by 47.3% during the fourth quarter. Empowered Funds LLC now owns 5,527 shares of the transportation company’s stock valued at $820,000 after purchasing an additional 1,775 shares during the period. Summit Securities Group LLC purchased a new position in shares of Herc in the fourth quarter worth about $179,000. Balyasny Asset Management L.P. lifted its stake in shares of Herc by 87.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 51,588 shares of the transportation company’s stock valued at $7,655,000 after buying an additional 24,099 shares in the last quarter. Freestone Grove Partners LP raised its holdings in Herc by 667.9% during the 4th quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock valued at $85,044,000 after acquiring an additional 498,511 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Herc during the fourth quarter worth $6,173,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

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.