Citigroup Cuts Herc (NYSE:HRI) Price Target to $135.00

Herc (NYSE:HRI) had its target price reduced by Citigroup from $165.00 to $135.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts also recently commented on HRI. Barclays lifted their price objective on Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lowered their price objective on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Robert W. Baird lowered their price objective on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company lowered their price target on Herc from $189.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.71.

Herc Stock Performance

Shares of HRI stock opened at $100.20 on Monday. The stock has a fifty day moving average price of $125.92 and a 200 day moving average price of $136.82. The stock has a market cap of $3.34 billion, a PE ratio of -556.68, a P/E/G ratio of 18.36 and a beta of 1.81. Herc has a 1 year low of $88.45 and a 1 year high of $188.35. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The company 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 firm posted $3.58 earnings per share. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. Sell-side analysts forecast that Herc will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.8%. Herc’s dividend payout ratio is presently -1,555.56%.

Hedge Funds Weigh In On Herc

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new position in shares of Herc during the fourth quarter valued at approximately $206,000. Empowered Funds LLC grew its holdings in Herc by 47.3% in the 4th quarter. Empowered Funds LLC now owns 5,527 shares of the transportation company’s stock worth $820,000 after buying an additional 1,775 shares in the last quarter. Summit Securities Group LLC bought a new position in Herc in the 4th quarter worth approximately $179,000. Balyasny Asset Management L.P. grew its holdings in Herc by 87.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 51,588 shares of the transportation company’s stock worth $7,655,000 after buying an additional 24,099 shares in the last quarter. Finally, Freestone Grove Partners LP grew its holdings in Herc by 667.9% in the 4th quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after buying an additional 498,511 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

About Herc

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.