Herc Holdings Inc. (HRI) Upgraded by Zacks Investment Research to Buy
Herc Holdings Inc. (NYSE:HRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $57.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.39% from the stock’s current price.
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 equities analysts also recently commented on HRI. MKM Partners restated a “buy” rating and issued a $22.00 price target on shares of Herc Holdings in a research note on Friday, July 7th. ValuEngine upgraded shares of Herc Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $45.71.
Herc Holdings (HRI) traded down 1.56% during mid-day trading on Wednesday, reaching $49.83. The company’s stock had a trading volume of 136,317 shares. The company’s 50-day moving average price is $43.84 and its 200 day moving average price is $43.10. Herc Holdings has a 52 week low of $28.66 and a 52 week high of $52.96. The firm’s market capitalization is $1.41 billion.
Herc Holdings (NYSE:HRI) last posted its quarterly earnings results on Tuesday, August 8th. The transportation company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.25. The business had revenue of $416.00 million during the quarter, compared to the consensus estimate of $397.00 million. Herc Holdings had a negative net margin of 4.82% and a negative return on equity of 9.52%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. On average, equities analysts forecast that Herc Holdings will post ($0.55) earnings per share for the current fiscal year.
In other news, COO James Bruce Dressel acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $39.02 per share, with a total value of $97,550.00. Following the transaction, the chief operating officer now owns 41,402 shares in the company, valued at $1,615,506.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Carl C. Icahn acquired 109,249 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $38.95 per share, with a total value of $4,255,248.55. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in HRI. Gamco Investors INC. ET AL lifted its position in shares of Herc Holdings by 19.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 3,526,858 shares of the transportation company’s stock worth $138,676,000 after purchasing an additional 575,971 shares during the last quarter. 1060 Capital LLC purchased a new stake in shares of Herc Holdings during the 2nd quarter worth $16,823,000. Victory Capital Management Inc. purchased a new stake in shares of Herc Holdings during the 1st quarter worth $18,278,000. Schneider Capital Management Corp lifted its position in shares of Herc Holdings by 83.3% during the 2nd quarter. Schneider Capital Management Corp now owns 733,953 shares of the transportation company’s stock worth $28,859,000 after purchasing an additional 333,646 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Herc Holdings by 23.8% during the 2nd quarter. Gabelli Funds LLC now owns 1,251,309 shares of the transportation company’s stock worth $49,201,000 after purchasing an additional 240,808 shares during the last quarter.
Herc Holdings Company Profile
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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