Herc Holdings Inc. (NYSE:HRI) Sees Large Increase in Short Interest

Herc Holdings Inc. (NYSE:HRI - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,970,000 shares, an increase of 21.2% from the April 30th total of 2,450,000 shares. Approximately 10.6% of the shares of the stock are short sold. Based on an average trading volume of 576,000 shares, the short-interest ratio is presently 5.2 days.

Herc Price Performance

Shares of NYSE HRI traded up $2.85 during trading on Friday, reaching $121.89. The company had a trading volume of 169,397 shares, compared to its average volume of 387,611. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc has a twelve month low of $96.19 and a twelve month high of $246.88. The stock has a 50-day moving average price of $121.54 and a two-hundred day moving average price of $162.71. The stock has a market capitalization of $3.47 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.61 and a beta of 1.85.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.21). The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $841.67 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. During the same period in the previous year, the firm posted $2.36 EPS. As a group, sell-side analysts predict that Herc will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 30th. Herc's dividend payout ratio is presently 62.36%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Robert W. Baird decreased their price objective on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group restated a "buy" rating and set a $146.00 target price (down from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Finally, Citigroup cut their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.20.

Institutional Trading of Herc

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Herc by 878.9% in the 4th quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock valued at $35,000 after acquiring an additional 167 shares during the last quarter. Larson Financial Group LLC grew its position in shares of 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 purchasing an additional 293 shares during the period. Quarry LP increased its stake 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 purchasing an additional 194 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after buying an additional 80 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Herc during the fourth quarter worth about $59,000. Institutional investors and hedge funds 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.