Herc (NYSE:HRI) Shares Down 5% – What’s Next?

Shares of Herc Holdings Inc. (NYSE:HRI) were down 5% during mid-day trading on Tuesday. The stock traded as low as $126.46 and last traded at $127.17. 128,116 shares changed hands during trading, a decline of 79% from the average daily volume of 601,603 shares. The stock had previously closed at $133.90.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HRI shares. BNP Paribas Exane lifted their target price 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 shares of Herc from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $165.00 to $175.00 in a research report on Thursday, September 10th. KeyCorp lifted their price target on shares of Herc from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Herc from $176.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Citigroup upped their price objective on shares of Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.43.

Herc Stock Down 1.9%

The firm has a 50 day simple moving average of $151.42 and a two-hundred day simple moving average of $136.23. The stock has a market capitalization of $4.17 billion, a P/E ratio of 84.88 and a beta of 1.86. 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 (NYSE:HRI) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.67. The business had revenue of $1.20 billion during 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%.Herc’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.87 EPS. On average, equities research analysts expect that Herc Holdings Inc. will post 6.97 earnings per share for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. Herc’s dividend payout ratio is 190.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HRI. Integrated Wealth Concepts LLC acquired a new position in Herc in the 2nd quarter valued at approximately $68,000. IFP Advisors Inc lifted its holdings in Herc by 42.1% during the 2nd quarter. IFP Advisors Inc now owns 17,353 shares of the transportation company’s stock worth $2,487,000 after buying an additional 5,142 shares during the period. Nykredit A S bought a new stake in shares of Herc in the 2nd quarter valued at about $133,000. HighTower Advisors LLC grew its position in shares of Herc by 4.1% in the 2nd quarter. HighTower Advisors LLC now owns 3,386 shares of the transportation company’s stock valued at $485,000 after buying an additional 134 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Herc in the second quarter valued at about $2,078,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Company Profile

Herc Holdings Inc is an equipment rental supplier operating under the Herc Rentals brand. The company provides construction, industrial, commercial and government customers with access to equipment and related services without requiring them to purchase and maintain their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, and general construction tools. Herc Rentals also offers specialty equipment and services for power generation, climate control, pumps, remediation, trench safety, and other specialized project requirements.