Shares of Herc Holdings Inc. (NYSE:HRI) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $187.50.
HRI has been the subject of a number of research analyst reports. Robert W. Baird lowered Herc from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $222.00 to $161.00 in a report on Tuesday, December 21st. Zacks Investment Research downgraded Herc from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 23rd. Barclays raised their price target on Herc from $135.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, September 28th. The Goldman Sachs Group raised their price target on Herc from $143.00 to $164.00 and gave the company a “buy” rating in a research report on Tuesday, September 28th. Finally, KeyCorp raised their price target on Herc from $175.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, October 22nd.
In other news, major shareholder Carl C. Icahn sold 87,952 shares of Herc stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $182.63, for a total value of $16,062,673.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn sold 29,960 shares of Herc stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $180.40, for a total transaction of $5,404,784.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,622 shares of company stock valued at $35,259,811. Corporate insiders own 1.30% of the company’s stock.
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Several hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its position in Herc by 37.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 94,998 shares of the transportation company’s stock valued at $10,646,000 after acquiring an additional 26,084 shares in the last quarter. Axiom Investors LLC DE bought a new stake in Herc in the 2nd quarter valued at $7,429,000. Virginia Retirement Systems ET AL lifted its position in Herc by 110.5% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,000 shares of the transportation company’s stock valued at $1,793,000 after acquiring an additional 8,400 shares in the last quarter. Geode Capital Management LLC lifted its position in Herc by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 425,047 shares of the transportation company’s stock valued at $47,635,000 after acquiring an additional 14,758 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Herc by 68.5% in the 3rd quarter. SG Americas Securities LLC now owns 24,809 shares of the transportation company’s stock valued at $4,055,000 after acquiring an additional 10,088 shares in the last quarter. 94.89% of the stock is owned by institutional investors.
NYSE HRI traded up $0.12 on Wednesday, reaching $155.89. 1,865 shares of the stock traded hands, compared to its average volume of 240,966. The firm’s fifty day simple moving average is $177.86 and its 200 day simple moving average is $145.90. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.09. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 25.12 and a beta of 2.79. Herc has a 12 month low of $61.19 and a 12 month high of $203.14.
Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, October 21st. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. Herc had a return on equity of 23.75% and a net margin of 9.32%. The company had revenue of $550.40 million during the quarter, compared to the consensus estimate of $552.06 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, equities research analysts forecast that Herc will post 7.62 EPS for the current fiscal year.
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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