Zacks Investment Research Lowers Herc Holdings Inc. (HRI) to Strong Sell
Herc Holdings Inc. (NYSE:HRI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.
According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “
HRI has been the subject of a number of other reports. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price target on shares of Herc Holdings in a research note on Thursday, April 13th. Sidoti cut Herc Holdings from a “buy” rating to a “neutral” rating in a research report on Thursday, May 18th. MKM Partners reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Herc Holdings in a research report on Friday, July 7th. Finally, ValuEngine raised Herc Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.00.
Herc Holdings (NYSE HRI) traded up 0.67% during midday trading on Thursday, reaching $39.00. The company had a trading volume of 394,529 shares. Herc Holdings has a 52-week low of $28.66 and a 52-week high of $52.96. The company’s 50-day moving average is $42.68 and its 200 day moving average is $44.57. The company’s market cap is $1.10 billion.
Herc Holdings (NYSE:HRI) last posted its quarterly earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.25. The firm had revenue of $416 million during the quarter, compared to the consensus estimate of $397 million. Herc Holdings had a negative return on equity of 9.08% and a negative net margin of 4.82%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned ($0.28) earnings per share. On average, equities research analysts forecast that Herc Holdings will post ($0.80) EPS for the current year.
In other Herc Holdings news, COO James Bruce Dressel acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was bought at an average cost of $35.61 per share, with a total value of $178,050.00. Following the completion of the transaction, the chief operating officer now directly owns 38,902 shares in the company, valued at approximately $1,385,300.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.12% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors acquired a new stake in Herc Holdings during the second quarter worth about $540,000. Symphony Asset Management LLC boosted its stake in Herc Holdings by 53.1% in the second quarter. Symphony Asset Management LLC now owns 8,599 shares of the transportation company’s stock worth $338,000 after buying an additional 2,981 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Herc Holdings by 60.2% in the second quarter. Alliancebernstein L.P. now owns 36,264 shares of the transportation company’s stock worth $1,426,000 after buying an additional 13,625 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Herc Holdings by 23.2% in the second quarter. Wells Fargo & Company MN now owns 237,106 shares of the transportation company’s stock worth $9,323,000 after buying an additional 44,726 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Herc Holdings by 3.8% in the second quarter. Private Advisor Group LLC now owns 7,964 shares of the transportation company’s stock worth $323,000 after buying an additional 288 shares during the last quarter. 96.41% of the stock is owned by institutional investors.
Herc Holdings Company Profile
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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