Herc (NYSE:HRI) Stock Rating Upgraded by Zacks Research

Herc (NYSE:HRI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on HRI. Robert W. Baird reduced their price objective on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Citigroup raised their price objective on Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Wells Fargo & Company raised their price objective on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered Herc from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Herc currently has a consensus rating of “Moderate Buy” and an average target price of $165.67.

Herc Stock Down 5.3%

HRI stock opened at $141.98 on Tuesday. Herc has a twelve month low of $88.45 and a twelve month high of $188.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. The firm has a market cap of $4.74 billion, a PE ratio of -525.84, a price-to-earnings-growth ratio of 27.14 and a beta of 1.89. The business has a 50 day moving average of $122.73 and a 200 day moving average of $137.15.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, research analysts forecast that Herc will post 5.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its stake in shares of Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after purchasing an additional 413,719 shares during the last quarter. Norges Bank purchased a new position in shares of Herc in the fourth quarter worth $287,269,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Herc by 86,823.0% in 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 purchasing an additional 1,333,602 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Herc by 8.1% in the third quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock worth $151,889,000 after acquiring an additional 97,235 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Herc by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company’s stock worth $115,872,000 after acquiring an additional 170,189 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.