Herc Holdings Inc. (NYSE:HRI – Get Free Report) shares fell 6.7% during trading on Tuesday . The stock traded as low as $143.02 and last traded at $142.1050. Approximately 287,618 shares traded hands during trading, a decline of 49% from the average daily volume of 566,561 shares. The stock had previously closed at $152.34.
Analyst Upgrades and Downgrades
HRI has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Herc from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their price objective on Herc from $176.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. KeyCorp upped their target price on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. BNP Paribas Exane raised their target price on shares of Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Herc has a consensus rating of “Moderate Buy” and an average price target of $183.00.
Herc Trading Down 7.3%
Herc (NYSE:HRI – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business posted $1.87 EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, research analysts forecast that Herc Holdings Inc. will post 6.93 EPS for the current fiscal year.
Herc Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, September 2nd. Herc’s dividend payout ratio is currently 190.48%.
Institutional Trading of Herc
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its position in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Herc in the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in Herc during the 3rd quarter worth $40,000. NewEdge Advisors LLC raised its stake in Herc by 628.8% during the 3rd quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock worth $50,000 after acquiring an additional 371 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Herc by 50.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Herc
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
Receive News & Ratings for Herc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herc and related companies with MarketBeat.com's FREE daily email newsletter.
