Brokerages Set Herc Holdings Inc. (NYSE:HRI) Target Price at $183.00

Shares of Herc Holdings Inc. (NYSE:HRI) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $183.00.

Several analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of Herc from $155.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. BNP Paribas Exane upped their price objective on shares of Herc from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. KeyCorp lifted their target price on shares of Herc from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on Herc from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th.

Herc Stock Down 1.3%

HRI stock opened at $156.01 on Wednesday. Herc has a one year low of $88.45 and a one year high of $188.35. The firm has a market cap of $5.22 billion, a PE ratio of 106.13, a PEG ratio of 21.94 and a beta of 1.87. The firm’s 50 day moving average price is $154.14 and its 200-day moving average price is $137.67. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.10 and a current ratio of 1.10.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $1.87 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that Herc will post 6.93 EPS for the current year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, September 2nd. Herc’s dividend payout ratio (DPR) is 190.48%.

Institutional Trading of Herc

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Herc by 176.9% in the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock valued at $3,462,000 after purchasing an additional 16,470 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Herc by 25.2% during the first quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock worth $35,337,000 after acquiring an additional 53,054 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Herc in the second quarter valued at $267,000. Federated Hermes Inc. boosted its holdings in Herc by 12,425.7% in the second quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock valued at $2,755,000 after purchasing an additional 20,751 shares during the period. Finally, California Public Employees Retirement System grew its stake in Herc by 9.0% during the 2nd quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock worth $7,075,000 after purchasing an additional 4,451 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.