Herc (NYSE:HRI) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

Herc (NYSE:HRI) had its target price reduced by Wells Fargo & Company from $189.00 to $160.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the transportation company’s stock.

Several other brokerages also recently commented on HRI. Barclays raised 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. Robert W. Baird reduced their target price on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. JPMorgan Chase & Co. reduced their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Finally, Citigroup reduced their target price on 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.71.

Herc Stock Performance

HRI stock opened at $103.72 on Monday. The stock has a 50-day moving average price of $128.30 and a 200-day moving average price of $137.19. Herc has a 1-year low of $88.45 and a 1-year high of $188.35. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 4.17. The firm has a market cap of $3.46 billion, a PE ratio of -576.21, a price-to-earnings-growth ratio of 13.88 and a beta of 1.81.

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

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.7%. Herc’s payout ratio is -1,555.56%.

Hedge Funds Weigh In On Herc

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Herc by 4.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock valued at $239,000 after purchasing an additional 72 shares during the last quarter. AlphaQuest LLC boosted its stake in Herc by 20.3% during the 3rd quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 74 shares during the last quarter. Midwest Financial Group LLC boosted its stake in Herc by 3.6% during the 4th quarter. Midwest Financial Group LLC now owns 2,153 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 75 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in Herc by 2.8% during the 4th quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock valued at $403,000 after purchasing an additional 75 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Herc by 53.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 86 shares during the last quarter. 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.