Herc (NYSE:HRI) Price Target Raised to $165.00 at JPMorgan Chase & Co.

Herc (NYSE:HRI) had its price objective boosted by JPMorgan Chase & Co. from $150.00 to $165.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other equities analysts have also recently commented on HRI. Robert W. Baird set a $200.00 target price on shares of Herc in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Herc in a report on Thursday, November 13th. They issued an “overweight” rating and a $170.00 target price for the company. Baird R W upgraded shares of Herc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen raised Herc from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Herc currently has an average rating of “Moderate Buy” and an average price target of $176.57.

Herc Stock Down 3.1%

Herc stock opened at $159.03 on Wednesday. The company has a market capitalization of $5.29 billion, a P/E ratio of -63.11, a PEG ratio of 1.54 and a beta of 1.78. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.22 and a current ratio of 1.22. Herc has a fifty-two week low of $96.18 and a fifty-two week high of $212.19. The stock has a 50-day simple moving average of $146.27 and a 200-day simple moving average of $135.31.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.83 by $0.39. Herc had a positive return on equity of 16.32% and a negative net margin of 1.68%.The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $4.35 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. Equities research analysts expect that Herc will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.8%. Herc’s payout ratio is presently -111.11%.

Institutional Investors Weigh In On Herc

A number of hedge funds have recently added to or reduced their stakes in the company. 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 worth $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Herc in the 3rd quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Herc in the second quarter valued at approximately $36,000. Advisory Services Network LLC acquired a new position in Herc during the third quarter worth $35,000. Finally, Byrne Asset Management LLC acquired a new position in Herc during the second quarter worth $45,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.