Herc (NYSE:HRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $38.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 37.93% from the company’s current price.
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 subject of several other reports. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 price target on shares of Herc in a report on Sunday, April 19th. Robert W. Baird assumed coverage on shares of Herc in a report on Monday. They set an “outperform” rating and a $40.00 price objective for the company. ValuEngine raised shares of Herc from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Goldman Sachs Group dropped their price objective on shares of Herc from $60.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.17.
NYSE:HRI traded down $3.50 during trading hours on Tuesday, hitting $27.55. The stock had a trading volume of 13,235 shares, compared to its average volume of 282,612. The company has a 50 day simple moving average of $25.83 and a two-hundred day simple moving average of $34.98. The company has a debt-to-equity ratio of 3.79, a current ratio of 1.32 and a quick ratio of 1.32. Herc has a one year low of $11.81 and a one year high of $50.81. The firm has a market capitalization of $997.05 million, a price-to-earnings ratio of 16.34, a P/E/G ratio of 61.17 and a beta of 3.14.
Herc (NYSE:HRI) last announced its quarterly earnings results on Thursday, April 23rd. The transportation company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.31. Herc had a net margin of 2.58% and a return on equity of 15.22%. The firm had revenue of $436.20 million during the quarter, compared to the consensus estimate of $464.48 million. During the same period last year, the firm earned ($0.23) EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts anticipate that Herc will post 0.41 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of HRI. Advisor Group Holdings Inc. bought a new stake in shares of Herc in the first quarter worth $30,000. Fifth Third Bancorp purchased a new position in shares of Herc in the first quarter valued at about $33,000. Great West Life Assurance Co. Can purchased a new position in shares of Herc in the fourth quarter valued at about $65,000. NumerixS Investment Technologies Inc lifted its position in shares of Herc by 300.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Herc in the fourth quarter valued at about $78,000. 93.47% of the stock is owned by institutional investors.
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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