Herc (NYSE:HRI) Raised to Buy at Bank of America

Bank of America upgraded shares of Herc (NYSE:HRI) from a neutral rating to a buy rating in a report released on Wednesday, The Fly reports. Bank of America currently has $38.00 target price on the transportation company’s stock.

Other equities analysts have also issued reports about the company. ValuEngine raised Herc from a sell rating to a hold rating in a research note on Monday, June 1st. Royal Bank of Canada restated a buy rating and set a $30.00 price objective on shares of Herc in a research report on Monday, June 29th. Zacks Investment Research lowered shares of Herc from a buy rating to a hold rating in a research note on Wednesday, June 24th. Robert W. Baird assumed coverage on Herc in a report on Monday, June 8th. They issued an outperform rating and a $40.00 price target on the stock. Finally, Goldman Sachs Group decreased their target price on Herc from $60.00 to $35.00 and set a buy rating on the stock in a report on Thursday, March 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $40.67.

HRI opened at $29.67 on Wednesday. Herc has a twelve month low of $11.81 and a twelve month high of $50.81. The stock has a market cap of $854.41 million, a PE ratio of 17.06, a price-to-earnings-growth ratio of 53.07 and a beta of 3.14. The business’s 50 day moving average is $29.40 and its 200-day moving average is $32.31. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 3.79.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, April 23rd. The transportation company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.31. The business had revenue of $436.20 million for the quarter, compared to analysts’ expectations of $464.48 million. Herc had a net margin of 2.58% and a return on equity of 15.22%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, analysts forecast that Herc will post 0.41 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRI. Advisor Group Holdings Inc. purchased a new stake in shares of Herc during the 1st quarter worth about $30,000. Fifth Third Bancorp bought a new position in shares of Herc during the 1st quarter valued at $33,000. Great West Life Assurance Co. Can acquired a new stake in shares of Herc in the 4th quarter valued at $65,000. NumerixS Investment Technologies Inc increased its position in Herc by 300.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the transportation company’s stock worth $78,000 after buying an additional 1,200 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Herc in the fourth quarter worth about $78,000. 93.47% of the stock is owned by hedge funds and other institutional investors.

About Herc

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.

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Analyst Recommendations for Herc (NYSE:HRI)

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