Herc (NYSE:HRI) Shares Down 8.3% – What’s Next?

Herc Holdings Inc. (NYSE:HRI) fell 8.3% on Friday . The company traded as low as $120.60 and last traded at $120.80. 534,503 shares changed hands during trading, a decline of 11% from the average session volume of 598,085 shares. The stock had previously closed at $131.74.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HRI. KeyCorp cut their target price on Herc from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Wells Fargo & Company raised their price objective on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Citigroup reduced their target price on Herc from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Barclays increased their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.29.

Herc Stock Down 8.4%

The stock’s fifty day simple moving average is $157.27 and its 200-day simple moving average is $141.60. The stock has a market cap of $4.02 billion, a P/E ratio of -670.06, a PEG ratio of 18.60 and a beta of 1.73. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.31 and a quick ratio of 1.31.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.The business’s revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.58 earnings per share. On average, research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, February 18th. Herc’s payout ratio is presently -1,555.56%.

Hedge Funds Weigh In On Herc

Several institutional investors and hedge funds have recently modified their holdings of HRI. Northwestern Mutual Wealth Management Co. raised its holdings in Herc by 4.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock valued at $239,000 after buying an additional 72 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Herc by 20.3% during the third quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 74 shares during the period. Midwest Financial Group LLC increased its holdings in Herc by 3.6% during the 4th quarter. Midwest Financial Group LLC now owns 2,153 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 75 shares in the last quarter. Wealthspire Advisors LLC lifted its position in Herc by 2.8% during the 4th quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock worth $403,000 after buying an additional 75 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Herc by 53.1% during the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Company Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.