Citigroup Lowers Herc (NYSE:HRI) Price Target to $140.00

Herc (NYSE:HRI) had its target price cut by stock analysts at Citigroup from $170.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s price target suggests a potential upside of 20.07% from the company’s current price.

Several other brokerages also recently issued reports on HRI. Barclays lowered their price objective on shares of Herc from $250.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Herc from $142.00 to $137.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group restated a “buy” rating and set a $146.00 price objective (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Herc currently has an average rating of “Moderate Buy” and an average price target of $144.60.

Herc Stock Down 0.6%

HRI stock opened at $116.60 on Wednesday. The firm has a market cap of $3.88 billion, a PE ratio of 135.58, a PEG ratio of 2.94 and a beta of 1.86. Herc has a 1 year low of $96.18 and a 1 year high of $246.88. The company has a fifty day simple moving average of $129.20 and a 200 day simple moving average of $142.31. The company has a current ratio of 1.15, a quick ratio of 1.50 and a debt-to-equity ratio of 4.37.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.58. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. Herc had a net margin of 0.61% and a return on equity of 20.77%. Sell-side analysts anticipate that Herc will post 12.84 EPS for the current fiscal year.

Institutional Trading of Herc

Several hedge funds have recently bought and sold shares of HRI. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Herc during the second quarter worth about $36,000. Larson Financial Group LLC lifted its stake in Herc by 1,831.3% in the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company’s stock valued at $41,000 after acquiring an additional 293 shares in the last quarter. Quarry LP boosted its position in Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company’s stock worth $42,000 after acquiring an additional 194 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Herc by 53.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock worth $44,000 after acquiring an additional 80 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Herc during the 2nd quarter worth approximately $45,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

About Herc

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.