Herc Holdings Inc. (NYSE:HRI) Sees Large Decline in Short Interest

Share on StockTwits

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.

Herc (NYSE:HRI) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.31). Herc had a return on equity of 12.70% and a net margin of 2.28%. The firm had revenue of $508.10 million during the quarter, compared to analyst estimates of $539.18 million. During the same period in the previous year, the company earned $1.60 EPS. Herc’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Herc will post 3.4 EPS for the current fiscal year.

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.

Featured Story: What is the CBOE Russell 2000® Volatility Index?

Receive News & Ratings for Herc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herc and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.