Herc (NYSE:HRI) Given New $185.00 Price Target at Citigroup

Herc (NYSE:HRI) had its target price lowered by equities research analysts at Citigroup from $195.00 to $185.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would indicate a potential upside of 28.31% from the stock’s current price.

Several other analysts have also issued reports on the company. Wells Fargo & Company upped their target price on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Robert W. Baird cut their price objective on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays boosted their target price on shares of Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Herc currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.29.

Herc Stock Down 2.0%

Shares of NYSE HRI traded down $2.96 during midday trading on Thursday, reaching $144.19. The company’s stock had a trading volume of 460,076 shares, compared to its average volume of 564,282. The stock has a 50 day simple moving average of $160.02 and a 200-day simple moving average of $139.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 4.28. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -801.58, a PEG ratio of 1.39 and a beta of 1.77. Herc has a fifty-two week low of $96.18 and a fifty-two week high of $188.35.

Herc (NYSE:HRI) last released its earnings results 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 13.62%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm earned $3.58 earnings per share. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. Equities research analysts predict that Herc will post 12.84 earnings per share for the current year.

Institutional Trading of Herc

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Herc by 4.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock worth $239,000 after purchasing an additional 72 shares during the period. AlphaQuest LLC grew its position in shares of Herc by 20.3% in the 3rd quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after buying an additional 74 shares during the last quarter. Midwest Financial Group LLC lifted its stake in shares of Herc by 3.6% in the fourth quarter. Midwest Financial Group LLC now owns 2,153 shares of the transportation company’s stock worth $319,000 after acquiring an additional 75 shares during the period. Wealthspire Advisors LLC boosted its holdings in Herc by 2.8% in the fourth quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock valued at $403,000 after acquiring an additional 75 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Herc by 53.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 86 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Company Profile

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.