Pier Capital LLC Raises Position in Herc Holdings Inc. $HRI

Pier Capital LLC lifted its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,196 shares of the transportation company's stock after purchasing an additional 12,114 shares during the period. Herc comprises about 1.6% of Pier Capital LLC's investment portfolio, making the stock its 8th biggest holding. Pier Capital LLC owned about 0.21% of Herc worth $10,267,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Praxis Investment Management Inc. bought a new position in shares of Herc during the fourth quarter worth about $273,000. Wolverine Asset Management LLC lifted its position in shares of Herc by 9.1% during the fourth quarter. Wolverine Asset Management LLC now owns 13,170 shares of the transportation company's stock worth $1,954,000 after purchasing an additional 1,100 shares during the last quarter. Strs Ohio lifted its position in shares of Herc by 56.3% during the fourth quarter. Strs Ohio now owns 2,500 shares of the transportation company's stock worth $371,000 after purchasing an additional 900 shares during the last quarter. Mutual Advisors LLC bought a new position in shares of Herc during the fourth quarter worth about $251,000. Finally, Verity Asset Management Inc. bought a new position in shares of Herc during the fourth quarter worth about $204,000. Institutional investors own 93.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on HRI. Zacks Research cut shares of Herc from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. KeyCorp reduced their price target on shares of Herc from $190.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, March 16th. Robert W. Baird reduced their price target on shares of Herc from $200.00 to $198.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Herc from $165.00 to $125.00 and set a "neutral" rating on the stock in a research report on Friday, April 10th. Finally, Citigroup increased their price target on shares of Herc from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $165.67.

Herc Price Performance

HRI opened at $131.85 on Friday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -488.34, a price-to-earnings-growth ratio of 27.13 and a beta of 1.90. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The company's 50-day moving average price is $113.86 and its 200 day moving average price is $136.77. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.42. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. Herc's quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, sell-side analysts expect that Herc Holdings Inc. will post 4.82 earnings per share for the current year.

About Herc

Herc Holdings Inc NYSE: HRI operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company's fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.

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