Wells Fargo & Company Cuts Herc (NYSE:HRI) Price Target to $160.00

Herc (NYSE:HRI) had its price target cut by Wells Fargo & Company from $189.00 to $160.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other research analysts also recently issued reports about the company. Citigroup reduced their target price on Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Barclays upped their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. KeyCorp reduced their target price on Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Robert W. Baird reduced their target price on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. reduced their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Herc presently has an average rating of “Moderate Buy” and a consensus target price of $157.71.

Herc Trading Down 3.3%

Shares of HRI stock opened at $100.20 on Monday. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -556.68, a PEG ratio of 18.36 and a beta of 1.81. The stock has a 50 day simple moving average of $125.92 and a 200-day simple moving average of $136.82. Herc has a 1-year low of $88.45 and a 1-year high of $188.35.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.58 EPS. On average, equities research analysts expect that Herc will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, February 18th. Herc’s dividend payout ratio is currently -1,555.56%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Herc by 4.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company’s stock valued at $239,000 after buying an additional 72 shares in the last quarter. AlphaQuest LLC grew its holdings in Herc by 20.3% in the 3rd quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after buying an additional 74 shares in the last quarter. Midwest Financial Group LLC grew its holdings in Herc by 3.6% in the 4th quarter. Midwest Financial Group LLC now owns 2,153 shares of the transportation company’s stock valued at $319,000 after buying an additional 75 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in Herc by 2.8% in the 4th quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company’s stock valued at $403,000 after buying an additional 75 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Herc by 53.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

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.