Herc (NYSE:HRI) Given New $140.00 Price Target at Citigroup

Key Points

• Citigroup has lowered its target price for Herc's stock from $170.00 to $140.00, while maintaining a "buy" rating, indicating a potential upside of 15.33% from the stock's previous close.
• Other analysts, including Robert W. Baird and JPMorgan Chase, have also cut their price targets, with average estimates now around $144.60 for Herc stock.
• Institutional investors hold 93.11% of Herc's stock, with notable increases in positions from firms like Vanguard Group and Invesco Ltd.

Herc (NYSE:HRI - Get Free Report) had its price target cut by research analysts at Citigroup from $170.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Citigroup's price objective indicates a potential upside of 23.68% from the stock's current price.

Several other analysts have also issued reports on HRI. JPMorgan Chase & Co. cut their target price on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Barclays cut their target price on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Robert W. Baird cut their target price on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Herc presently has an average rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Price Performance

Shares of HRI traded down $3.62 during midday trading on Wednesday, hitting $113.19. 160,252 shares of the company traded hands, compared to its average volume of 526,434. The stock has a 50-day moving average of $129.20 and a 200-day moving average of $142.31. Herc has a one year low of $96.18 and a one year high of $246.88. The firm has a market cap of $3.76 billion, a P/E ratio of 132.59, a PEG ratio of 2.94 and a beta of 1.86. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.50.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $868.23 million. As a group, sell-side analysts predict that Herc will post 12.84 EPS for the current fiscal year.

Institutional Trading of Herc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Herc in the first quarter worth $11,259,000. D.A. Davidson & CO. lifted its stake in Herc by 9.6% in the first quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company's stock worth $5,270,000 after acquiring an additional 3,435 shares during the period. Handelsbanken Fonder AB lifted its stake in Herc by 8.0% in the first quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock worth $907,000 after acquiring an additional 500 shares during the period. Millennium Management LLC lifted its stake in Herc by 1,221.2% in the fourth quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock worth $7,712,000 after acquiring an additional 37,649 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its stake in Herc by 12.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock worth $527,000 after acquiring an additional 315 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

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.