Herc (NYSE:HRI) Price Target Raised to $165.00

Herc (NYSE:HRI) had its price target raised by BNP Paribas Exane from $160.00 to $165.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

HRI has been the topic of several other reports. KeyCorp increased their price target on Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Wells Fargo & Company boosted their price objective on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Citigroup upped their target price on Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on Herc from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Herc Stock Performance

Shares of NYSE HRI opened at $150.22 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.46 and a debt-to-equity ratio of 4.22. Herc has a 12 month low of $88.45 and a 12 month high of $188.35. The company has a 50 day simple moving average of $144.75 and a two-hundred day simple moving average of $136.77. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 102.19, a PEG ratio of 26.49 and a beta of 1.88.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.76 by $0.67. Herc had a net margin of 1.01% and a return on equity of 10.33%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $1.87 EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts predict that Herc will post 5.3 earnings per share for the current year.

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.70 per share. The ex-dividend date was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.9%. Herc’s dividend payout ratio (DPR) is 190.48%.

Hedge Funds Weigh In On Herc

A number of large investors have recently bought and sold shares of HRI. Handelsbanken Fonder AB grew its holdings in Herc by 38.2% in the second quarter. Handelsbanken Fonder AB now owns 10,850 shares of the transportation company’s stock valued at $1,555,000 after purchasing an additional 3,000 shares during the period. NewEdge Advisors LLC raised its stake in shares of Herc by 61.4% during the 1st quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock worth $69,000 after buying an additional 264 shares during the period. Argent Capital Management LLC raised its stake in shares of Herc by 55.9% during the 1st quarter. Argent Capital Management LLC now owns 10,286 shares of the transportation company’s stock worth $1,024,000 after buying an additional 3,688 shares during the period. Bank of America Corp DE lifted its position in shares of Herc by 147.8% during the 1st quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock valued at $23,426,000 after buying an additional 140,355 shares in the last quarter. Finally, Seven Six Capital Management LLC lifted its position in shares of Herc by 43.0% during the 1st quarter. Seven Six Capital Management LLC now owns 32,575 shares of the transportation company’s stock valued at $3,243,000 after buying an additional 9,800 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

About Herc

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.