Herc (NYSE:HRI) Given New $165.00 Price Target at Citigroup

Herc (NYSE:HRI) had its price objective dropped by equities research analysts at Citigroup from $185.00 to $165.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s target price suggests a potential upside of 45.59% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Barclays increased 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. Robert W. Baird dropped their target price on Herc from $200.00 to $198.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Wells Fargo & Company increased their target price on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.43.

Herc Stock Down 5.7%

NYSE:HRI traded down $6.80 during mid-day trading on Monday, reaching $113.33. The company’s stock had a trading volume of 265,960 shares, compared to its average volume of 602,655. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17. Herc has a 1 year low of $96.18 and a 1 year high of $188.35. The stock has a fifty day moving average of $156.54 and a 200-day moving average of $141.83. The firm has a market capitalization of $3.78 billion, a PE ratio of -629.61, a price-to-earnings-growth ratio of 16.20 and a beta of 1.73.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Herc had a net margin of 0.02% and a return on equity of 13.21%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $3.58 EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Equities research analysts forecast that Herc will post 12.84 earnings per share for the current year.

Hedge Funds Weigh In On Herc

Several institutional investors and hedge funds have recently bought and sold shares of HRI. Hantz Financial Services Inc. raised its stake in Herc by 342.1% in the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Herc by 53.1% during 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 position in shares of Herc in the third quarter valued at about $31,000. Advisory Services Network LLC purchased a new position in shares of Herc in the third quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Herc in the third quarter worth about $40,000. 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.