Herc (NYSE:HRI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Herc (NYSE:HRI) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

HRI has been the topic of a number of other research reports. TheStreet upgraded shares of Herc from a c+ rating to a b- rating in a report on Thursday, July 22nd. Robert W. Baird raised their target price on shares of Herc from $145.00 to $158.00 and gave the stock an outperform rating in a report on Monday. KeyCorp raised their target price on shares of Herc from $145.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Herc from $125.00 to $143.00 and gave the stock a buy rating in a report on Friday, July 23rd. Finally, Barclays raised their target price on shares of Herc from $128.00 to $135.00 and gave the stock an overweight rating in a report on Friday, July 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Herc presently has a consensus rating of Buy and a consensus target price of $131.17.

HRI stock opened at $143.05 on Wednesday. Herc has a 1 year low of $34.95 and a 1 year high of $144.46. The company has a market cap of $4.24 billion, a P/E ratio of 27.62, a PEG ratio of 0.38 and a beta of 3.09. The firm has a 50-day moving average of $125.04 and a 200 day moving average of $112.03. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.97 and a quick ratio of 0.97.

Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, July 22nd. The transportation company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.33. The business had revenue of $490.90 million for the quarter, compared to analysts’ expectations of $456.93 million. Herc had a net margin of 8.09% and a return on equity of 21.16%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities research analysts expect that Herc will post 6.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 4th. Stockholders of record on Wednesday, October 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.40%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. EAM Investors LLC purchased a new position in Herc during the first quarter valued at $4,751,000. BNP Paribas Arbitrage SA grew its stake in shares of Herc by 45.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 15,886 shares of the transportation company’s stock worth $1,610,000 after buying an additional 4,948 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Herc in the 1st quarter worth $1,202,000. Westwood Holdings Group Inc. purchased a new position in shares of Herc in the 1st quarter worth $560,000. Finally, Eaton Vance Management purchased a new position in shares of Herc in the 1st quarter worth $23,302,000. 96.19% of the stock is owned by institutional investors.

About Herc

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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