Herc Holdings Inc. (NYSE:HRI – Get Rating) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 701,500 shares, a decline of 13.1% from the August 15th total of 806,900 shares. Based on an average daily volume of 248,600 shares, the short-interest ratio is presently 2.8 days. Currently, 2.4% of the shares of the stock are sold short.
Herc Trading Down 2.3 %
Herc stock traded down $2.62 during trading on Friday, reaching $110.04. 211,204 shares of the company were exchanged, compared to its average volume of 143,869. The stock’s 50 day simple moving average is $114.04 and its two-hundred day simple moving average is $122.67. The company has a market capitalization of $3.29 billion, a P/E ratio of 12.19, a PEG ratio of 0.39 and a beta of 2.69. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.07 and a quick ratio of 1.07. Herc has a 52-week low of $83.43 and a 52-week high of $203.14.
Herc (NYSE:HRI – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.11). Herc had a return on equity of 28.42% and a net margin of 11.76%. The company had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $631.11 million. During the same quarter in the prior year, the firm earned $1.57 EPS. The firm’s revenue was up 30.6% on a year-over-year basis. On average, equities research analysts expect that Herc will post 11.81 earnings per share for the current fiscal year.
Herc Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, August 18th. This represents a $2.30 annualized dividend and a dividend yield of 2.09%. Herc’s dividend payout ratio is presently 25.47%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its holdings in shares of Herc by 175.7% during the 2nd quarter. Federated Hermes Inc. now owns 207,062 shares of the transportation company’s stock worth $18,667,000 after acquiring an additional 131,962 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Herc during the 2nd quarter worth about $204,000. Captrust Financial Advisors increased its position in shares of Herc by 152.5% during the 2nd quarter. Captrust Financial Advisors now owns 803 shares of the transportation company’s stock worth $72,000 after purchasing an additional 485 shares during the last quarter. Legal & General Group Plc increased its position in shares of Herc by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 25,036 shares of the transportation company’s stock worth $2,257,000 after purchasing an additional 707 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Herc during the 2nd quarter worth about $1,655,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Herc from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. KeyCorp boosted their price objective on Herc from $130.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Finally, Wells Fargo & Company cut their price objective on Herc to $165.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy 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 $178.83.
Herc Company Profile
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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