Herc (NYSE:HRI) Stock Price Down 5% – Time to Sell?

Herc Holdings Inc. (NYSE:HRI) shares traded down 5% during mid-day trading on Tuesday. The stock traded as low as $126.46 and last traded at $127.17. Approximately 128,116 shares changed hands during trading, a decline of 79% from the average daily volume of 601,603 shares. The stock had previously closed at $133.90.

Wall Street Analyst Weigh In

HRI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised Herc from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $165.00 to $175.00 in a research note on Thursday, September 10th. Weiss Ratings upgraded shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Citigroup lifted their target price on shares of Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. BNP Paribas Exane boosted their price target on shares of Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, KeyCorp increased their price target on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.43.

Herc Stock Performance

The company has a 50 day moving average of $152.37 and a two-hundred day moving average of $136.05. The company has a debt-to-equity ratio of 4.22, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $4.24 billion, a PE ratio of 86.48 and a beta of 1.86.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.67. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Herc had a net margin of 1.01% and a return on equity of 10.33%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, equities research analysts predict that Herc Holdings Inc. will post 6.97 earnings per share for the current year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 2.2%. Herc’s payout ratio is presently 190.48%.

Hedge Funds Weigh In On Herc

A number of institutional investors and hedge funds have recently made changes to their positions in HRI. Hantz Financial Services Inc. boosted its position in shares of Herc by 342.1% in the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Herc during the 2nd quarter valued at approximately $68,000. State of Wyoming raised its stake in Herc by 21.0% during the first quarter. State of Wyoming now owns 616 shares of the transportation company’s stock valued at $61,000 after buying an additional 107 shares during the last quarter. NewEdge Advisors LLC raised its stake in Herc by 61.4% during the first quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock valued at $69,000 after buying an additional 264 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Herc during the fourth quarter valued at $138,000. Institutional investors own 93.11% of the company’s stock.

Herc Company Profile

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control systems, pumps, trench-safety equipment, tools, and general construction equipment.