Herc (NYSE:HRI) Price Target Lowered to $140.00 at Citigroup

Herc (NYSE:HRI) had its target price lowered by Citigroup from $165.00 to $140.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Separately, The Goldman Sachs Group decreased their price objective on shares of Herc from $234.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.20.

Herc Stock Performance

HRI stock opened at $111.98 on Tuesday. The stock’s 50 day simple moving average is $155.16 and its 200 day simple moving average is $182.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc has a 12-month low of $109.79 and a 12-month high of $246.88. The stock has a market capitalization of $3.19 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93.

Herc (NYSE:HRI) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). Herc had a net margin of 5.91% and a return on equity of 26.48%. The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $919.84 million. As a group, research analysts forecast that Herc will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.50%. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date was Tuesday, February 18th. Herc’s dividend payout ratio (DPR) is presently 37.79%.

Institutional Investors Weigh In On Herc

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System grew its position in Herc by 0.9% during the fourth quarter. Arizona State Retirement System now owns 7,829 shares of the transportation company’s stock valued at $1,482,000 after buying an additional 68 shares during the period. Stifel Financial Corp grew its position in shares of Herc by 4.1% during the 3rd quarter. Stifel Financial Corp now owns 2,019 shares of the transportation company’s stock valued at $322,000 after acquiring an additional 80 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock worth $44,000 after purchasing an additional 80 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Herc by 0.4% in the 4th quarter. Salem Investment Counselors Inc. now owns 21,126 shares of the transportation company’s stock worth $4,000,000 after purchasing an additional 90 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in Herc by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company’s stock worth $558,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

About Herc

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.