Herc (NYSE:HRI) Given New $160.00 Price Target at KeyCorp

Herc (NYSE:HRIGet Rating) had its price target lifted by KeyCorp from $145.00 to $160.00 in a research note released on Tuesday morning, The Fly reports. They currently have an overweight rating on the transportation company’s stock. KeyCorp also issued estimates for Herc’s Q1 2023 earnings at $2.52 EPS, Q2 2023 earnings at $3.41 EPS, Q3 2023 earnings at $4.90 EPS, Q4 2023 earnings at $4.39 EPS and FY2023 earnings at $15.22 EPS.

HRI has been the topic of several other reports. The Goldman Sachs Group lowered their price objective on Herc from $168.00 to $150.00 and set a buy rating on the stock in a research note on Friday, October 14th. StockNews.com initiated coverage on Herc in a research report on Wednesday, October 12th. They set a hold rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $167.60.

Herc Price Performance

Shares of NYSE:HRI opened at $132.09 on Tuesday. Herc has a fifty-two week low of $83.43 and a fifty-two week high of $194.90. The business has a 50-day moving average of $116.31 and a two-hundred day moving average of $112.00. The stock has a market capitalization of $3.86 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.56 and a beta of 2.55. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.09 and a quick ratio of 1.09.

Herc (NYSE:HRIGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The transportation company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $3.52 by ($0.10). Herc had a return on equity of 30.20% and a net margin of 12.01%. The business had revenue of $745.10 million for the quarter. On average, equities research analysts predict that Herc will post 11.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Herc news, major shareholder Carl C. Icahn sold 5,432 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $133.39, for a total transaction of $724,574.48. Following the transaction, the insider now owns 3,945,603 shares of the company’s stock, valued at approximately $526,303,984.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Carl C. Icahn sold 39,700 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $132.99, for a total value of $5,279,703.00. Following the transaction, the insider now owns 3,975,421 shares of the company’s stock, valued at approximately $528,691,238.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Carl C. Icahn sold 5,432 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $133.39, for a total value of $724,574.48. Following the completion of the transaction, the insider now directly owns 3,945,603 shares in the company, valued at approximately $526,303,984.17. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HRI. PNC Financial Services Group Inc. raised its stake in Herc by 90.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after buying an additional 150 shares during the period. NewSquare Capital LLC bought a new position in Herc during the 3rd quarter worth about $36,000. Bessemer Group Inc. bought a new position in Herc during the 3rd quarter worth about $42,000. Lazard Asset Management LLC increased its holdings in Herc by 593.7% during the 2nd quarter. Lazard Asset Management LLC now owns 437 shares of the transportation company’s stock worth $39,000 after purchasing an additional 374 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Herc by 95.8% during the 1st quarter. Covestor Ltd now owns 507 shares of the transportation company’s stock worth $85,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Herc Company Profile

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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.

Further Reading

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