Herc (NYSE:HRI) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Herc (NYSE:HRI) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks reports.

HRI has been the topic of several other reports. Wells Fargo & Company boosted their price target on shares of Herc from $176.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. JPMorgan Chase & Co. raised shares of Herc from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $165.00 to $175.00 in a research report on Thursday, September 10th. KeyCorp boosted their target price on Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Herc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, BNP Paribas Exane increased their price target on Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

Herc Trading Down 1.2%

NYSE HRI opened at $138.71 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22. The business has a fifty day simple moving average of $154.11 and a 200 day simple moving average of $135.72. Herc has a 12 month low of $88.45 and a 12 month high of $188.35. The firm has a market capitalization of $4.64 billion, a P/E ratio of 94.36, a PEG ratio of 19.17 and a beta of 1.86.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. Herc had a net margin of 1.01% and a return on equity of 10.33%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 EPS. On average, analysts predict that Herc will post 7.05 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently disclosed 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 2.0%. The ex-dividend date is Wednesday, September 2nd. Herc’s dividend payout ratio (DPR) is 190.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Covestor Ltd lifted its stake in Herc by 78.1% in the fourth quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 157 shares during the last quarter. State of Wyoming lifted its stake in Herc by 21.0% in the first quarter. State of Wyoming now owns 616 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 107 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Herc during the second quarter valued at $68,000. Finally, NewEdge Advisors LLC grew its holdings in Herc by 61.4% during the first quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 264 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

About Herc

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control systems, pumps, trench-safety equipment, tools, and general construction equipment.