Herc Holdings Inc. (NYSE:HRI) was the target of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 525,300 shares, a growth of 7.3% from the November 14th total of 489,400 shares. Based on an average trading volume of 242,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.9% of the shares of the company are sold short.
Several hedge funds and other institutional investors have recently modified their holdings of HRI. First Trust Advisors LP boosted its stake in shares of Herc by 95.0% in the first quarter. First Trust Advisors LP now owns 81,865 shares of the transportation company’s stock valued at $3,191,000 after purchasing an additional 39,880 shares during the period. Aperio Group LLC boosted its holdings in Herc by 10.8% in the 2nd quarter. Aperio Group LLC now owns 10,812 shares of the transportation company’s stock worth $495,000 after acquiring an additional 1,056 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Herc in the 2nd quarter worth approximately $153,000. Swiss National Bank boosted its holdings in Herc by 1.8% in the 2nd quarter. Swiss National Bank now owns 39,746 shares of the transportation company’s stock worth $1,822,000 after acquiring an additional 700 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in Herc in the 2nd quarter worth approximately $367,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
Several research firms have recently commented on HRI. Zacks Investment Research raised shares of Herc from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, December 25th. Goldman Sachs Group raised shares of Herc from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $60.00 in a report on Friday, September 20th. ValuEngine downgraded shares of Herc from a “sell” rating to a “strong sell” rating in a report on Friday, October 11th. Finally, Bank of America downgraded shares of Herc from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $58.00.
NYSE:HRI opened at $49.69 on Tuesday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day moving average of $48.16 and a two-hundred day moving average of $44.85. The stock has a market capitalization of $1.42 billion, a PE ratio of 29.75, a P/E/G ratio of 0.68 and a beta of 3.38. Herc has a fifty-two week low of $24.43 and a fifty-two week high of $50.81.
Herc (NYSE:HRI) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($1.31). The company had revenue of $508.10 million for the quarter, compared to analyst estimates of $539.18 million. Herc had a return on equity of 12.70% and a net margin of 2.28%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. Research analysts forecast that Herc will post 3.4 earnings per share for the current 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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