Royal Bank of Canada Raises Herc (NYSE:HRI) Price Target to $53.00

Herc (NYSE:HRI) had its target price raised by Royal Bank of Canada from $44.00 to $53.00 in a research note released on Friday, The Fly reports. They currently have an outperform rating on the transportation company’s stock.

Other analysts have also issued research reports about the company. ValuEngine upgraded Herc from a sell rating to a hold rating in a report on Tuesday, September 1st. Bank of America upgraded Herc from a neutral rating to a buy rating and set a $38.00 target price for the company in a report on Wednesday, July 8th. BofA Securities upgraded Herc from a neutral rating to a buy rating in a report on Wednesday, July 8th. TheStreet upgraded Herc from a d+ rating to a c- rating in a report on Thursday, August 13th. Finally, Zacks Investment Research upgraded Herc from a hold rating to a strong-buy rating and set a $52.00 price objective for the company in a report on Friday, October 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $43.60.

Shares of NYSE HRI opened at $44.54 on Friday. The stock has a 50 day moving average price of $42.25 and a 200 day moving average price of $33.73. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 17.65 and a beta of 3.29. Herc has a 52-week low of $11.81 and a 52-week high of $50.81.

Herc (NYSE:HRI) last posted its earnings results on Thursday, October 22nd. The transportation company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.52. The company had revenue of $456.70 million during the quarter, compared to analyst estimates of $432.46 million. Herc had a return on equity of 14.53% and a net margin of 2.31%. Herc’s revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. Analysts forecast that Herc will post 1.88 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new position in shares of Herc in the 3rd quarter valued at $38,000. Envestnet Asset Management Inc. increased its position in shares of Herc by 8.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 21,135 shares of the transportation company’s stock valued at $837,000 after acquiring an additional 1,626 shares during the period. Two Sigma Advisers LP increased its position in shares of Herc by 0.7% in the 2nd quarter. Two Sigma Advisers LP now owns 150,412 shares of the transportation company’s stock valued at $4,622,000 after acquiring an additional 1,048 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Herc by 36.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 45,248 shares of the transportation company’s stock valued at $1,390,000 after acquiring an additional 12,203 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Herc by 3.6% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 156,576 shares of the transportation company’s stock valued at $4,812,000 after acquiring an additional 5,415 shares during the period. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Herc Company Profile

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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