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

Herc (NYSE:HRI) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts also recently issued reports on HRI. BNP Paribas Exane increased their price target on Herc from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. upgraded Herc from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $165.00 to $175.00 in a report on Thursday, September 10th. Wells Fargo & Company boosted their price objective on Herc from $176.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Citigroup increased their target price on Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.43.

Herc Price Performance

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

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HRI. Norges Bank bought a new stake in Herc in the 4th quarter valued at approximately $287,269,000. Dimensional Fund Advisors LP raised 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 valued at $115,872,000 after purchasing an additional 170,189 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Herc by 13.4% in the first quarter. First Trust Advisors LP now owns 873,338 shares of the transportation company’s stock worth $86,941,000 after purchasing an additional 103,047 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Herc in the second quarter worth $86,054,000. Finally, Bank of America Corp DE lifted its position in shares of Herc by 147.8% in the first quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock worth $23,426,000 after purchasing an additional 140,355 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Herc Company Profile

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.