Herc (NYSE:HRI) Given New $165.00 Price Target at Citigroup

Herc (NYSE:HRI) had its price target trimmed by Citigroup from $185.00 to $165.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

HRI has been the subject of several other research reports. Robert W. Baird dropped their price objective on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Barclays boosted their target price on Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Wells Fargo & Company raised their price target on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.43.

Herc Price Performance

Shares of Herc stock opened at $121.37 on Monday. The company’s fifty day simple moving average is $155.87 and its two-hundred day simple moving average is $141.85. Herc has a 12-month low of $96.18 and a 12-month high of $188.35. The firm has a market cap of $4.05 billion, a PE ratio of -674.25, a price-to-earnings-growth ratio of 16.20 and a beta of 1.73. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.25 billion. Herc had a net margin of 0.02% and a return on equity of 13.21%. Herc’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.58 earnings per share. As a group, equities analysts expect that Herc will post 12.84 EPS for the current year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, February 18th. Herc’s dividend payout ratio (DPR) is presently -1,555.56%.

Institutional Investors Weigh In On Herc

Hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its stake in shares of Herc by 342.1% during the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Herc by 53.1% in 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 in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Herc in the 3rd quarter worth approximately $31,000. Advisory Services Network LLC purchased a new stake in shares of Herc in the 3rd quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Herc during the third quarter valued at $40,000. Institutional investors 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.