Analysts Set Herc Holdings Inc. (NYSE:HRI) Target Price at $184.43

Herc Holdings Inc. (NYSE:HRI) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $184.4286.

HRI has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Herc from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $165.00 to $175.00 in a report on Thursday, September 10th. Zacks Research raised shares of Herc from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Wells Fargo & Company lifted their target price on shares of Herc from $176.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. KeyCorp boosted their price target on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup raised their price objective on Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th.

Herc Trading Down 2.4%

NYSE HRI opened at $135.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22. The stock’s 50-day simple moving average is $153.79 and its two-hundred day simple moving average is $135.67. Herc has a twelve month low of $88.45 and a twelve month high of $188.35. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 92.09, a PEG ratio of 18.46 and a beta of 1.86.

Herc (NYSE:HRI) last released its earnings results on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. The company 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 quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS. Research analysts forecast that Herc will post 7.05 EPS for the current fiscal year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors 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 yield of 2.1%. Herc’s dividend payout ratio is currently 190.48%.

Hedge Funds Weigh In On Herc

Large investors have recently bought and sold shares of the stock. Greenland Capital Management LP purchased a new stake in shares of Herc during the second quarter valued at approximately $1,147,000. Peregrine Capital Management LLC purchased a new position in shares of Herc in the first quarter worth $6,234,000. Bank of America Corp DE increased its stake 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 buying an additional 140,355 shares during the period. Penn Capital Management Company LLC bought a new stake in Herc during the 2nd quarter valued at $21,070,000. Finally, Norges Bank bought a new stake in Herc during the 4th quarter valued at $287,269,000. 93.11% of the stock is owned by hedge funds and other 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.