Herc (NYSE:HRI) Shares Up 9.2% – Still a Buy?

Shares of Herc Holdings Inc. (NYSE:HRI) were up 9.2% during trading on Thursday . The company traded as high as $153.59 and last traded at $156.3850. Approximately 81,522 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 592,777 shares. The stock had previously closed at $143.23.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HRI shares. Weiss Ratings downgraded shares of Herc from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Citigroup lifted their target price on shares of Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. reduced their price target on Herc from $165.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.67.

Herc Stock Performance

The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $5.07 billion, a P/E ratio of -561.91, a PEG ratio of 27.71 and a beta of 1.89. The business has a 50-day moving average price of $134.94 and a 200 day moving average price of $138.22.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. As a group, sell-side analysts forecast that Herc Holdings Inc. will post 5.31 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 29th. Herc’s payout ratio is currently -1,037.04%.

Institutional Trading of Herc

Several institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Herc in the third quarter worth approximately $31,000. Advisory Services Network LLC bought a new position in shares of Herc in the third quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Herc during the third quarter valued at approximately $40,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Herc by 628.8% during the third quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock valued at $50,000 after buying an additional 371 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

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.