Herc (NYSE:HRI) Coverage Initiated at Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Herc (NYSE:HRI) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating on the transportation company’s stock.

A number of other brokerages have also issued reports on HRI. Citigroup raised their target price on Herc from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded Herc from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. JPMorgan Chase & Co. lifted their target price on Herc from $140.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Finally, Robert W. Baird set a $200.00 price objective on shares of Herc in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.33.

Herc Stock Performance

Shares of Herc stock traded up $0.99 during midday trading on Thursday, hitting $133.77. The company had a trading volume of 249,471 shares, compared to its average volume of 505,714. The company has a fifty day simple moving average of $129.30 and a 200 day simple moving average of $127.69. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of -53.08, a PEG ratio of 1.71 and a beta of 1.87. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 4.28. Herc has a 12-month low of $96.18 and a 12-month high of $236.39.

Herc (NYSE:HRI) last released its earnings results on Thursday, November 2nd. The transportation company reported $3.42 earnings per share for the quarter. The company had revenue of $745.00 million for the quarter. Herc had a negative net margin of 1.68% and a positive return on equity of 16.32%. As a group, analysts predict that Herc will post 12.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Herc during the 2nd quarter worth about $242,697,000. Invesco Ltd. raised its holdings in Herc by 104.7% in the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company’s stock worth $400,995,000 after purchasing an additional 1,527,244 shares during the period. Coliseum Capital Management LLC boosted its position in Herc by 213.4% during the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company’s stock worth $175,892,000 after purchasing an additional 891,979 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Herc by 362.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 700,402 shares of the transportation company’s stock valued at $92,236,000 after purchasing an additional 549,072 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Herc by 135.6% in the first quarter. Alliancebernstein L.P. now owns 589,817 shares of the transportation company’s stock valued at $79,195,000 after buying an additional 339,519 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.