Herc (NYSE:HRI) Price Target Raised to $240.00

Herc (NYSE:HRI) had its price objective upped by JPMorgan Chase & Co. from $200.00 to $240.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird restated a “neutral” rating and set a $155.00 price objective on shares of Herc in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $212.25.

Herc Stock Up 0.2 %

HRI opened at $209.57 on Wednesday. The firm has a market capitalization of $5.95 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07. Herc has a one year low of $102.32 and a one year high of $214.16. The company has a fifty day moving average price of $155.78 and a 200-day moving average price of $147.55. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.23 and a quick ratio of 1.23.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.13). Herc had a return on equity of 27.16% and a net margin of 10.09%. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $931.33 million. During the same quarter in the previous year, the firm earned $4.00 earnings per share. Herc’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Herc will post 13.17 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio is currently 21.75%.

Insiders Place Their Bets

In related news, Director Michael A. Kelly sold 3,880 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the transaction, the director now owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Tamir Peres sold 5,821 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the sale, the senior vice president now owns 35,415 shares of the company’s stock, valued at approximately $5,632,047.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the transaction, the director now directly owns 13,774 shares in the company, valued at approximately $2,876,424.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,701 shares of company stock valued at $3,203,074. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Herc

A number of large investors have recently added to or reduced their stakes in HRI. Vanguard Group Inc. grew its stake in shares of Herc by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock worth $494,288,000 after purchasing an additional 38,798 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Herc in the 1st quarter worth approximately $990,000. SG Americas Securities LLC increased its stake in shares of Herc by 226.4% during the second quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock valued at $752,000 after buying an additional 3,914 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Herc by 232.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company’s stock valued at $2,461,000 after acquiring an additional 10,217 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Herc by 15,137.8% in the second quarter. Quest Partners LLC now owns 6,857 shares of the transportation company’s stock worth $914,000 after acquiring an additional 6,812 shares during the period. Institutional investors own 93.11% of the company’s stock.

About Herc

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.