Herc Holdings Inc. (NYSE:HRI) Announces Earnings Results
Herc Holdings Inc. (NYSE:HRI) issued its quarterly earnings results on Tuesday. The transportation company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.25, Morningstar.com reports. Herc Holdings had a negative return on equity of 7.69% and a negative net margin of 3.69%. The business had revenue of $416 million during the quarter, compared to analyst estimates of $397 million. During the same quarter in the prior year, the business posted ($0.28) EPS. Herc Holdings’s revenue for the quarter was up 9.4% compared to the same quarter last year.
Shares of Herc Holdings (NYSE:HRI) opened at 45.50 on Tuesday. The firm has a 50-day moving average price of $41.82 and a 200-day moving average price of $44.62. Herc Holdings has a 52 week low of $28.66 and a 52 week high of $52.96. The stock’s market cap is $1.29 billion.
In other news, COO James Bruce Dressel acquired 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average price of $35.61 per share, for a total transaction of $178,050.00. Following the completion of the transaction, the chief operating officer now owns 38,902 shares in the company, valued at approximately $1,385,300.22. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank increased its position in shares of Herc Holdings by 4.2% in the first quarter. Swiss National Bank now owns 39,546 shares of the transportation company’s stock worth $1,933,000 after buying an additional 1,600 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Herc Holdings during the fourth quarter worth $343,000. Columbus Circle Investors purchased a new position in shares of Herc Holdings during the first quarter worth $6,393,000. Impala Asset Management LLC increased its position in shares of Herc Holdings by 140.0% in the first quarter. Impala Asset Management LLC now owns 398,049 shares of the transportation company’s stock worth $19,461,000 after buying an additional 232,199 shares during the period. Finally, Princeton Alpha Management LP purchased a new position in shares of Herc Holdings during the first quarter worth $226,000. Institutional investors and hedge funds own 96.41% of the company’s stock.
A number of brokerages have issued reports on HRI. Zacks Investment Research upgraded Herc Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. MKM Partners reiterated a “buy” rating and issued a $22.00 price target on shares of Herc Holdings in a research note on Friday, July 7th. ValuEngine upgraded Herc Holdings from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Sidoti lowered Herc Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, May 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price target on shares of Herc Holdings in a research note on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Herc Holdings currently has an average rating of “Hold” and a consensus price target of $45.00.
About Herc Holdings
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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