KeyCorp Lowers Herc (NYSE:HRI) Price Target to $165.00

Herc (NYSE:HRI) had its price objective decreased by research analysts at KeyCorp from $190.00 to $165.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. KeyCorp’s price objective indicates a potential upside of 51.69% from the company’s current price.

A number of other research analysts have also weighed in on HRI. Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Citigroup dropped their target price on Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Barclays increased their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird lowered their price target on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Finally, Wells Fargo & Company upped their price objective on shares of Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.86.

Herc Stock Performance

Shares of NYSE HRI opened at $108.77 on Monday. The company has a market cap of $3.63 billion, a PE ratio of -604.30, a price-to-earnings-growth ratio of 14.69 and a beta of 1.73. Herc has a 12 month low of $96.18 and a 12 month high of $188.35. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.31 and a quick ratio of 1.31. The company has a 50-day simple moving average of $152.81 and a 200-day simple moving average of $141.34.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Herc had a net margin of 0.02% and a return on equity of 13.21%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted $3.58 earnings per share. The company’s revenue was up 27.1% on a year-over-year basis. On average, equities analysts anticipate that Herc will post 12.84 earnings per share for the current year.

Hedge Funds Weigh In On Herc

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Herc during the 4th quarter worth approximately $287,269,000. Northwestern Mutual Wealth Management Co. lifted its position in Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after buying an additional 1,333,602 shares in the last quarter. Invesco Ltd. grew its stake in Herc by 24.2% during the second quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after buying an additional 723,239 shares during the period. Freestone Grove Partners LP grew its stake in Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after buying an additional 498,511 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Herc by 305.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 425,582 shares of the transportation company’s stock worth $63,148,000 after acquiring an additional 320,649 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

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.