Citigroup Has Lowered Expectations for Herc (NYSE:HRI) Stock Price

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 decreased by investment analysts at Citigroup from $170.00 to $140.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the transportation company's stock. Citigroup's price target points to a potential upside of 22.35% from the stock's current price.

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

Herc Price Performance

Shares of NYSE HRI traded down $2.38 during trading hours on Wednesday, reaching $114.43. 734,945 shares of the stock traded hands, compared to its average volume of 627,356. The company has a market capitalization of $3.80 billion, a P/E ratio of 133.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.86. The company has a quick ratio of 1.50, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc has a 52-week low of $96.18 and a 52-week high of $246.88. The company's 50-day simple moving average is $128.97 and its two-hundred day simple moving average is $141.30.

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

Institutional Trading of Herc

Large investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Herc in the second quarter valued at $36,000. Larson Financial Group LLC boosted its holdings in Herc by 1,831.3% in the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after acquiring an additional 293 shares in the last quarter. Quarry LP boosted its holdings in Herc by 646.7% in the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after acquiring an additional 194 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Herc by 53.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock valued at $44,000 after acquiring an additional 80 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Herc during the second quarter valued at approximately $45,000. Institutional investors own 93.11% of the company's stock.

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.