Herc Holdings Inc. (NYSE:HRI) Short Interest Update

Herc Holdings Inc. (NYSE:HRI) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,350,000 shares, an increase of 23.7% from the March 15th total of 1,900,000 shares. Based on an average daily volume of 527,600 shares, the short-interest ratio is presently 4.5 days. Currently, 8.4% of the company’s shares are short sold.

Herc Stock Down 5.1 %

Shares of HRI traded down $6.00 during mid-day trading on Monday, hitting $111.66. 639,785 shares of the company’s stock were exchanged, compared to its average volume of 353,892. The stock’s 50-day moving average is $139.85 and its 200-day moving average is $180.48. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. Herc has a fifty-two week low of $108.31 and a fifty-two week high of $246.88. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.61 and a beta of 1.93.

Herc (NYSE:HRI) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.40). The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, February 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, February 18th. This is a boost from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio (DPR) is 37.79%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Herc by 878.9% during the 4th quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock worth $35,000 after purchasing an additional 167 shares in the last quarter. Quarry LP grew its holdings in Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company’s stock valued at $42,000 after buying an additional 194 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock worth $44,000 after buying an additional 80 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Herc in the fourth quarter worth $59,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Herc by 54.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 130 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HRI. JPMorgan Chase & Co. dropped their price target on shares of Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group cut their target price on Herc from $234.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, Citigroup lowered their price target on Herc from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.20.

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.