Herc (NYSE:HRI) Rating Lowered to Hold at Zacks Investment Research

Herc (NYSE:HRI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “

Several other research firms have also issued reports on HRI. KeyCorp boosted their price target on shares of Herc from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted their price target on shares of Herc from $145.00 to $158.00 and gave the company an “outperform” rating in a research report on Monday. Barclays boosted their price target on shares of Herc from $128.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 23rd. The Goldman Sachs Group boosted their price target on shares of Herc from $125.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. Finally, TheStreet raised shares of Herc from a “c+” rating to a “b-” rating in a report on Thursday, July 22nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $138.17.

HRI opened at $156.45 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.98. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 0.38 and a beta of 3.09. Herc has a twelve month low of $34.95 and a twelve month high of $156.59. The company’s 50-day moving average price is $125.95 and its two-hundred day moving average price is $112.34.

Herc (NYSE:HRI) last posted its quarterly earnings results on Thursday, July 22nd. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.33. Herc had a net margin of 8.09% and a return on equity of 21.16%. The company had revenue of $490.90 million for the quarter, compared to analyst estimates of $456.93 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Herc will post 6.9 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors purchased a new position in Herc in the 1st quarter worth approximately $25,000. USA Financial Portformulas Corp purchased a new position in Herc in the 2nd quarter worth approximately $63,000. Acadian Asset Management LLC purchased a new position in Herc in the 1st quarter worth approximately $81,000. US Bancorp DE grew its stake in Herc by 19.2% in the 1st quarter. US Bancorp DE now owns 881 shares of the transportation company’s stock worth $89,000 after buying an additional 142 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Herc in the 1st quarter worth approximately $113,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Herc Company Profile

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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