Herc (NYSE:HRI) Price Target Raised to $176.00

Herc (NYSE:HRI) had its price objective raised by Wells Fargo & Company from $160.00 to $176.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the transportation company’s stock.

HRI has been the subject of several other research reports. KeyCorp lowered their price target on Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Herc in a report on Tuesday, April 21st. Citigroup decreased their target price on Herc from $165.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 13th. Robert W. Baird decreased their target price on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. decreased their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $165.67.

Herc Stock Up 4.7%

NYSE HRI traded up $5.93 during trading on Wednesday, hitting $132.85. The company’s stock had a trading volume of 941,213 shares, compared to its average volume of 614,599. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.31. The company has a market cap of $4.43 billion, a PE ratio of -492.03, a P/E/G ratio of 31.13 and a beta of 1.81. The business’s 50 day simple moving average is $114.84 and its 200-day simple moving average is $136.47. Herc has a fifty-two week low of $88.45 and a fifty-two week high of $188.35.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.42. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. On average, equities analysts anticipate that Herc will post 3.92 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. Herc’s payout ratio is -1,037.04%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HRI. Norges Bank purchased a new position in Herc during the fourth quarter valued at approximately $287,269,000. Northwestern Mutual Wealth Management Co. raised its position in Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after acquiring an additional 1,333,602 shares in the last quarter. Freestone Grove Partners LP raised its position in Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock valued at $85,044,000 after acquiring an additional 498,511 shares in the last quarter. Invesco Ltd. raised its position in Herc by 11.2% during the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock valued at $481,040,000 after acquiring an additional 413,719 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Herc by 305.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 425,582 shares of the transportation company’s stock valued at $63,148,000 after acquiring an additional 320,649 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.