Herc (HRI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Herc (NYSE:HRI) from a hold rating to a sell rating in a research note issued to investors on Wednesday, January 10th.

According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “

A number of other equities research analysts have also weighed in on the company. Northcoast Research reaffirmed a neutral rating on shares of Herc in a research report on Tuesday, December 19th. Barclays assumed coverage on Herc in a research report on Tuesday, December 12th. They set an overweight rating and a $70.00 target price for the company. Buckingham Research assumed coverage on Herc in a report on Tuesday, November 21st. They issued a neutral rating and a $55.00 price target on the stock. Finally, KeyCorp reiterated a buy rating and issued a $68.00 price target on shares of Herc in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $52.67.

Herc (NYSE:HRI) opened at $62.80 on Wednesday. The firm has a market capitalization of $1,782.25, a P/E ratio of -26.06 and a beta of 2.64. The company has a debt-to-equity ratio of 7.66, a quick ratio of 1.03 and a current ratio of 1.09. Herc has a 1-year low of $33.27 and a 1-year high of $66.00.

Herc (NYSE:HRI) last posted its quarterly earnings data on Wednesday, November 8th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. The business had revenue of $457.60 million during the quarter, compared to analyst estimates of $422.31 million. Herc had a negative return on equity of 6.63% and a negative net margin of 4.08%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. equities research analysts expect that Herc will post -0.47 earnings per share for the current fiscal year.

In other news, Director Jean K. Holley purchased 1,400 shares of the company’s stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $54.78 per share, for a total transaction of $76,692.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.12% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL grew its stake in Herc by 3.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 3,642,489 shares of the transportation company’s stock valued at $178,955,000 after purchasing an additional 115,631 shares during the last quarter. Vanguard Group Inc. grew its stake in Herc by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,007,460 shares of the transportation company’s stock valued at $78,933,000 after purchasing an additional 93,761 shares during the last quarter. Harris Associates L P grew its stake in Herc by 18.8% during the 2nd quarter. Harris Associates L P now owns 1,399,518 shares of the transportation company’s stock valued at $55,029,000 after purchasing an additional 221,511 shares during the last quarter. Gabelli Funds LLC grew its stake in Herc by 0.3% during the 3rd quarter. Gabelli Funds LLC now owns 1,254,609 shares of the transportation company’s stock valued at $61,639,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Herc by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 887,325 shares of the transportation company’s stock worth $43,594,000 after purchasing an additional 15,801 shares during the period. Institutional investors and hedge funds own 99.15% of the company’s stock.

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About Herc

Hertz Global Holdings, Inc (Hertz Global) is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global’s primary operating company. The Company operates through three segments. The U.S. Car Rental (U.S. RAC) segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States.

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