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

Herc (NYSE:HRI) had its target price trimmed by KeyCorp from $190.00 to $165.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts have also recently commented on HRI. Barclays lifted their target price on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Wells Fargo & Company raised their price objective on shares of Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price 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, Citigroup decreased their target price on shares of Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Six equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.86.

Herc Trading Up 0.5%

NYSE:HRI opened at $109.50 on Monday. The company has a market capitalization of $3.65 billion, a PE ratio of -608.33, a P/E/G ratio of 14.69 and a beta of 1.73. Herc has a 52-week low of $96.18 and a 52-week high of $188.35. The stock’s 50 day moving average price is $151.85 and its 200 day moving average price is $141.17. 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 issued its quarterly earnings data 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. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.58 earnings per share. On average, research analysts anticipate that Herc will post 12.84 EPS for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Wednesday, February 18th. Herc’s dividend payout ratio (DPR) is -1,555.56%.

Hedge Funds Weigh In On Herc

Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Herc in the 4th quarter worth $287,269,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Herc by 86,823.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after acquiring an additional 1,333,602 shares in the last quarter. Invesco Ltd. increased its stake in shares of Herc by 24.2% during the second quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after acquiring an additional 723,239 shares during the period. Freestone Grove Partners LP increased its stake in shares of Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after acquiring an additional 498,511 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Herc by 305.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 425,582 shares of the transportation company’s stock worth $63,148,000 after purchasing an additional 320,649 shares in the last quarter. 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.