Citigroup Issues Pessimistic Forecast for Herc (NYSE:HRI) Stock Price

Herc (NYSE:HRI) had its price target dropped by equities researchers at Citigroup from $185.00 to $165.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would indicate a potential upside of 43.75% from the stock’s previous close.

A number of other research firms have also recently issued reports on HRI. KeyCorp lowered their target price on Herc from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Robert W. Baird lowered their price objective on shares of Herc from $200.00 to $198.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 18th. Wells Fargo & Company raised their price target on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Barclays upped their target price on Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.43.

Herc Trading Down 5.3%

HRI opened at $114.78 on Monday. 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 50-day moving average price of $155.11 and a two-hundred day moving average price of $141.75. Herc has a 1-year low of $96.18 and a 1-year high of $188.35. The stock has a market capitalization of $3.83 billion, a PE ratio of -637.66, a PEG ratio of 16.34 and a beta of 1.73.

Herc (NYSE:HRI) last announced 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 analysts’ expectations of $1.25 billion. During the same period in the previous year, the business posted $3.58 EPS. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. As a group, equities analysts anticipate that Herc will post 12.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HRI. Evergreen Capital Management LLC purchased a new stake in shares of Herc in the third quarter valued at about $7,876,000. American Century Companies Inc. boosted its holdings in Herc by 8.1% during the third quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock worth $151,889,000 after purchasing an additional 97,235 shares during the last quarter. SG Americas Securities LLC grew its position in Herc by 397.5% in the 3rd quarter. SG Americas Securities LLC now owns 8,373 shares of the transportation company’s stock worth $977,000 after purchasing an additional 6,690 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Herc by 15.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,484 shares of the transportation company’s stock valued at $9,685,000 after buying an additional 11,032 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in Herc in the 3rd quarter valued at about $709,000. 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.