Cooper Creek Partners Management LLC Acquires New Stake in Herc Holdings Inc. $HRI

Cooper Creek Partners Management LLC acquired a new stake in Herc Holdings Inc. (NYSE:HRI) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 219,645 shares of the transportation company’s stock, valued at approximately $21,866,000.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Herc in the 4th quarter worth $287,269,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock worth $198,108,000 after acquiring an additional 1,333,602 shares during the period. Freestone Grove Partners LP increased its stake in shares of Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after acquiring an additional 498,511 shares during the period. Invesco Ltd. lifted its position in Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock valued at $481,040,000 after purchasing an additional 413,719 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Herc by 305.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 425,582 shares of the transportation company’s stock valued at $63,148,000 after purchasing an additional 320,649 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HRI. Citigroup lifted their price objective on Herc from $155.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings raised Herc from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Wells Fargo & Company lifted their price target on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane began coverage on Herc in a report on Monday, June 29th. They set a “neutral” rating and a $160.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $173.43.

Herc Stock Down 0.6%

Shares of NYSE HRI opened at $162.33 on Friday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -601.21, a price-to-earnings-growth ratio of 29.52 and a beta of 1.88. Herc Holdings Inc. has a 52 week low of $88.45 and a 52 week high of $188.35. The firm has a 50-day moving average price of $142.83 and a 200 day moving average price of $137.28. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.42. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. Equities research analysts anticipate that Herc Holdings Inc. will post 5.3 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 1.7%. Herc’s payout ratio is -1,037.04%.

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.