Herc (NYSE:HRI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Herc (NYSE:HRI) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

Other analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of Herc from $128.00 to $135.00 and gave the stock an overweight rating in a report on Friday, July 23rd. Robert W. Baird lifted their price objective on shares of Herc from $145.00 to $158.00 and gave the stock an outperform rating in a report on Monday, September 20th. The Goldman Sachs Group lifted their target price on shares of Herc from $125.00 to $143.00 and gave the stock a buy rating in a research report on Friday, July 23rd. KeyCorp lifted their target price on shares of Herc from $145.00 to $175.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, TheStreet upgraded shares of Herc from a c+ rating to a b- rating in a research report on Thursday, July 22nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Herc currently has an average rating of Buy and a consensus price target of $138.17.

Shares of NYSE:HRI opened at $159.98 on Wednesday. The firm has a fifty day moving average price of $126.97 and a two-hundred day moving average price of $113.01. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.97 and a quick ratio of 0.97. Herc has a one year low of $35.44 and a one year high of $160.47. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.38 and a beta of 3.09.

Herc (NYSE:HRI) last posted its quarterly earnings data on Thursday, July 22nd. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.33. Herc had a net margin of 8.09% and a return on equity of 21.16%. The company had revenue of $490.90 million during the quarter, compared to the consensus estimate of $456.93 million. During the same period in the previous year, the firm posted $0.25 EPS. The firm’s revenue was up 33.4% compared to the same quarter last year. Equities research analysts expect that Herc will post 6.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 4th. Shareholders of record on Wednesday, October 20th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, October 19th.

Several hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its position in shares of Herc by 37.9% in the second quarter. Parametric Portfolio Associates LLC now owns 94,998 shares of the transportation company’s stock valued at $10,646,000 after acquiring an additional 26,084 shares during the period. Morgan Stanley increased its position in shares of Herc by 193.7% in the second quarter. Morgan Stanley now owns 105,740 shares of the transportation company’s stock valued at $11,850,000 after acquiring an additional 69,741 shares during the period. Walleye Capital LLC purchased a new position in shares of Herc in the second quarter valued at about $1,679,000. Walleye Trading LLC bought a new stake in shares of Herc during the 2nd quarter valued at about $663,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Herc by 112,933.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,782 shares of the transportation company’s stock valued at $760,000 after purchasing an additional 6,776 shares in the last quarter. Hedge funds and other institutional investors own 96.19% 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.

Featured Story: How Does the Quiet Period Work?

Get a free copy of the Zacks research report on Herc (HRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Herc (NYSE:HRI)

Receive News & Ratings for Herc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herc and related companies with MarketBeat.com's FREE daily email newsletter.