Herc (NYSE:HRI) Price Target Raised to $240.00

Herc (NYSE:HRI) had its price objective upped by Robert W. Baird from $220.00 to $240.00 in a research report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the transportation company’s stock.

HRI has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Herc from $176.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup cut their target price on shares of Herc from $175.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 12th. BNP Paribas Exane lifted their target price on shares of Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Herc in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded shares of Herc from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $165.00 to $175.00 in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.57.

Herc Stock Down 5.0%

Shares of HRI opened at $165.24 on Wednesday. Herc has a 52 week low of $88.45 and a 52 week high of $188.35. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 4.08. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 22.83 and a beta of 2.04. The stock’s 50-day moving average price is $139.30 and its 200-day moving average price is $139.39.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, October 27th. The transportation company reported $3.91 EPS for the quarter, topping the consensus estimate of $2.92 by $0.99. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Herc had a return on equity of 13.21% and a net margin of 2.50%. Herc’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $2.22 earnings per share. On average, sell-side analysts predict that Herc will post 7.87 EPS for the current year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. Herc’s dividend payout ratio is currently 76.29%.

Institutional Trading of Herc

Institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund purchased a new position in shares of Herc during the 3rd quarter valued at approximately $861,000. ProShare Advisors LLC grew its stake in Herc by 3.9% in the 3rd quarter. ProShare Advisors LLC now owns 4,567 shares of the transportation company’s stock valued at $570,000 after acquiring an additional 173 shares during the period. State of Wyoming increased its holdings in Herc by 63.4% in the 3rd quarter. State of Wyoming now owns 469 shares of the transportation company’s stock worth $59,000 after acquiring an additional 182 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Herc by 73.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,200 shares of the transportation company’s stock worth $3,145,000 after acquiring an additional 10,700 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in Herc by 67.5% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,414 shares of the transportation company’s stock worth $176,000 after acquiring an additional 570 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc News Roundup

Here are the key news stories impacting Herc this week:

• Positive Sentiment: Strong earnings beat: Herc reported third-quarter adjusted earnings of $3.91 per share, well above the $2.92 analyst consensus. Revenue reached approximately $1.36 billion, up 4.6% year over year and slightly ahead of expectations. Why Herc Holdings Stock Surged This Week
• Positive Sentiment: Improved rental economics: Equipment rental revenue increased 12% despite fleet growth of less than 2%, indicating better utilization and operating efficiency. These results helped drive the stock’s recent gains. HRI Q3 Deep Dive
• Positive Sentiment: Favorable growth outlook: Expansion in specialty equipment and demand tied to large infrastructure and industrial projects are improving management’s outlook and could support future revenue and margins. HRI Q3 Deep Dive
• Positive Sentiment: Analyst support: Analysts at Robert W. Baird, JPMorgan, BNP Paribas Exane and Citigroup issued positive forecasts or indicated potential for further appreciation, reinforcing bullish sentiment. Baird Forecast
• Neutral Sentiment: Momentum remains strong: Zacks highlighted HRI as a strong momentum stock, while reports noted that it has outperformed many transportation-related peers. Momentum-based interest may continue attracting investors. Why Herc Is a Strong Momentum Stock
• Negative Sentiment: Profit-taking and financial risk: After rising substantially toward its 52-week high, HRI may face short-term selling pressure. Its elevated debt-to-equity ratio and relatively modest net margin remain risks, particularly if equipment demand or rental pricing weakens.

About Herc

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

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