JPMorgan Chase & Co. Issues Pessimistic Forecast for Herc (NYSE:HRI) Stock Price

Herc (NYSE:HRI) had its price target cut by investment analysts at JPMorgan Chase & Co. from $165.00 to $125.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 21.45% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Robert W. Baird dropped their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Barclays upped 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. Citigroup dropped their target price on shares of Herc from $185.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, KeyCorp lowered their price target on shares of Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.14.

Herc Stock Down 0.4%

Shares of HRI stock opened at $102.92 on Friday. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50-day moving average is $129.23 and its 200-day moving average is $137.20. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -571.78, a PEG ratio of 13.88 and a beta of 1.81. Herc has a 52-week low of $88.45 and a 52-week high of $188.35.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Herc had a net margin of 0.02% and a return on equity of 13.21%. Herc’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.58 EPS. Sell-side analysts predict that Herc will post 12.84 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HRI. Norges Bank bought a new position in Herc in the 4th quarter valued at about $287,269,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock worth $198,108,000 after purchasing an additional 1,333,602 shares during the period. Freestone Grove Partners LP increased its holdings 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 purchasing an additional 498,511 shares during the period. Invesco Ltd. increased its holdings in shares of Herc by 11.2% during the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after purchasing an additional 413,719 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of 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 during the period. 93.11% of the stock is owned by institutional investors.

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.