Herc Holdings Inc. (NYSE:HRI) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 371,700 shares, a decrease of 18.1% from the September 30th total of 454,100 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 244,100 shares, the days-to-cover ratio is currently 1.5 days.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC acquired a new stake in shares of Herc in the second quarter valued at about $22,811,000. Prudential Financial Inc. increased its stake in shares of Herc by 680.8% in the second quarter. Prudential Financial Inc. now owns 194,644 shares of the transportation company’s stock valued at $8,921,000 after buying an additional 169,714 shares during the period. Renaissance Technologies LLC increased its stake in shares of Herc by 84.5% in the second quarter. Renaissance Technologies LLC now owns 296,600 shares of the transportation company’s stock valued at $13,593,000 after buying an additional 135,800 shares during the period. Castleark Management LLC acquired a new stake in shares of Herc in the second quarter valued at about $5,378,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Herc by 111.2% in the second quarter. Jacobs Levy Equity Management Inc. now owns 159,182 shares of the transportation company’s stock valued at $7,295,000 after buying an additional 83,826 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.
HRI traded down $0.36 on Tuesday, reaching $50.01. The stock had a trading volume of 159,900 shares, compared to its average volume of 233,990. Herc has a fifty-two week low of $24.16 and a fifty-two week high of $50.81. The firm has a 50-day moving average of $45.51 and a 200-day moving average of $43.09. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 4.10. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 0.69 and a beta of 3.39.
A number of brokerages have issued reports on HRI. Goldman Sachs Group raised Herc from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $60.00 in a report on Friday, September 20th. Bank of America cut Herc from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Thursday, September 26th. ValuEngine cut Herc from a “sell” rating to a “strong sell” rating in a report on Friday, October 11th. Zacks Investment Research cut Herc from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Buckingham Research set a $70.00 target price on Herc and gave the stock a “buy” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $55.80.
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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