Herc (NYSE:HRI) Price Target Raised to $180.00

Herc (NYSE:HRI) had its price objective boosted by Citigroup from $150.00 to $180.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the transportation company’s stock.

HRI has been the topic of a number of other reports. BNP Paribas Exane lifted their price target on Herc from $165.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Herc from $176.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Herc from $165.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Research raised shares of Herc from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. Finally, KeyCorp raised their price target on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.57.

Herc Stock Performance

Shares of NYSE HRI opened at $165.24 on Wednesday. Herc has a 1-year low of $88.45 and a 1-year high of $188.35. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 4.08. The stock’s 50-day moving average is $139.30 and its 200 day moving average is $139.39. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 22.83 and a beta of 2.04.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, October 27th. The transportation company reported $3.91 EPS for the quarter, topping the consensus estimate of $2.92 by $0.99. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Herc had a net margin of 2.50% and a return on equity of 13.21%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. On average, sell-side analysts anticipate that Herc will post 7.87 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued a $0.70 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. Herc’s dividend payout ratio is 76.29%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Greenland Capital Management LP bought a new stake in Herc during the second quarter worth about $1,147,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Herc during the second quarter valued at approximately $2,078,000. Penn Capital Management Company LLC bought a new position in shares of Herc during the second quarter valued at approximately $21,070,000. Peregrine Capital Management LLC purchased a new position in shares of Herc during the first quarter valued at approximately $6,234,000. Finally, Bank of America Corp DE lifted its holdings in shares of Herc by 147.8% during the first quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock valued at $23,426,000 after purchasing an additional 140,355 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Key Herc News

Here are the key news stories impacting Herc this week:

• Positive Sentiment: Strong earnings beat: Herc reported third-quarter adjusted earnings of $3.91 per share, well above the $2.92 analyst consensus. Revenue reached approximately $1.36 billion, up 4.6% year over year and slightly ahead of expectations. Why Herc Holdings Stock Surged This Week
• Positive Sentiment: Improved rental economics: Equipment rental revenue increased 12% despite fleet growth of less than 2%, indicating better utilization and operating efficiency. These results helped drive the stock’s recent gains. HRI Q3 Deep Dive
• Positive Sentiment: Favorable growth outlook: Expansion in specialty equipment and demand tied to large infrastructure and industrial projects are improving management’s outlook and could support future revenue and margins. HRI Q3 Deep Dive
• Positive Sentiment: Analyst support: Analysts at Robert W. Baird, JPMorgan, BNP Paribas Exane and Citigroup issued positive forecasts or indicated potential for further appreciation, reinforcing bullish sentiment. Baird Forecast
• Neutral Sentiment: Momentum remains strong: Zacks highlighted HRI as a strong momentum stock, while reports noted that it has outperformed many transportation-related peers. Momentum-based interest may continue attracting investors. Why Herc Is a Strong Momentum Stock
• Negative Sentiment: Profit-taking and financial risk: After rising substantially toward its 52-week high, HRI may face short-term selling pressure. Its elevated debt-to-equity ratio and relatively modest net margin remain risks, particularly if equipment demand or rental pricing weakens.

About Herc

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power generation and climate-control equipment, pumps, and general tools.