Zacks Investment Research upgraded shares of Herc (NYSE:HRI) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. They currently have $50.00 price objective on the transportation company’s stock.
According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “
Several other brokerages have also recently issued reports on HRI. ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Longbow Research started coverage on shares of H&E Equipment Services in a research note on Friday, March 29th. They issued a buy rating and a $34.00 price objective on the stock. TheStreet cut shares of The Providence Service from a b- rating to a c+ rating in a research note on Friday, June 28th. Finally, Bank of America dropped their price objective on shares of Micron Technology from $50.00 to $43.00 and set a buy rating on the stock in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $55.86.
HRI stock opened at $43.25 on Tuesday. The firm has a fifty day simple moving average of $40.77. Herc has a 12 month low of $24.16 and a 12 month high of $61.01. The stock has a market cap of $1.22 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 0.44 and a beta of 3.33. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.12 and a current ratio of 1.12.
Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, May 2nd. The transportation company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05. The company had revenue of $475.70 million for the quarter, compared to analysts’ expectations of $455.90 million. Herc had a net margin of 3.59% and a return on equity of 12.16%. Herc’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. As a group, research analysts anticipate that Herc will post 3.21 EPS for the current year.
Large investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc grew its stake in shares of Herc by 115.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,800 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC acquired a new stake in Herc in the 1st quarter valued at about $173,000. Sullivan Bruyette Speros & Blaney LLC acquired a new stake in Herc in the 1st quarter valued at about $292,000. Bank of Montreal Can grew its stake in Herc by 340.4% in the 1st quarter. Bank of Montreal Can now owns 7,658 shares of the transportation company’s stock valued at $299,000 after acquiring an additional 5,919 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in Herc by 359.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,803 shares of the transportation company’s stock valued at $203,000 after acquiring an additional 6,106 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.
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