Herc (NYSE:HRI) Price Target Raised to $165.00 at JPMorgan Chase & Co.

Herc (NYSE:HRI) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $140.00 to $165.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.07% from the company’s previous close.

HRI has been the topic of a number of other reports. Weiss Ratings raised Herc from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. BNP Paribas Exane assumed coverage on Herc in a research note on Monday, June 29th. They issued a “neutral” rating and a $160.00 price objective for the company. KeyCorp dropped their price objective on shares of Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Wells Fargo & Company lifted their target price on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Citigroup boosted their target price on shares of Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $170.57.

Herc Price Performance

Shares of NYSE HRI traded down $1.69 during mid-day trading on Monday, hitting $147.22. 83,136 shares of the stock traded hands, compared to its average volume of 594,766. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.46. Herc has a twelve month low of $88.45 and a twelve month high of $188.35. The company has a market cap of $4.92 billion, a PE ratio of -545.24, a price-to-earnings-growth ratio of 26.96 and a beta of 1.88. The firm has a 50 day simple moving average of $139.48 and a two-hundred day simple moving average of $137.29.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Herc’s quarterly revenue was up 32.3% compared to the same quarter last year. As a group, equities research analysts forecast that Herc will post 5.31 EPS for the current fiscal year.

Institutional Trading of Herc

Several institutional investors have recently added to or reduced their stakes in HRI. Invesco Ltd. raised its holdings in Herc by 11.2% during the 3rd quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after purchasing an additional 413,719 shares during the last quarter. Norges Bank bought a new stake in shares of Herc in the 4th quarter valued at $287,269,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Herc by 86,823.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after purchasing an additional 1,333,602 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Herc by 17.1% in the 1st 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. Finally, First Trust Advisors LP increased its position in shares of Herc by 13.4% during the first quarter. First Trust Advisors LP now owns 873,338 shares of the transportation company’s stock worth $86,941,000 after buying an additional 103,047 shares during the period. 93.11% of the stock is currently owned by institutional investors.

About Herc

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.