Herc (NYSE:HRI) Given New $165.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Herc’s price target from $140 to $165 and kept a neutral rating, implying about 12% upside from the current share price.
• Several other analysts have also adjusted their views, with targets ranging from $155 to $176; overall, Herc now has an average Hold rating and an average target price of $170.57.
• Herc reported better-than-expected quarterly results, posting $0.21 EPS versus expectations for a loss and revenue of $1.14 billion, up 32.3% year over year.

Herc (NYSE:HRI - Get Free Report) had its price target upped by investment analysts at JPMorgan Chase & Co. from $140.00 to $165.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 12.07% from the company's current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Herc from $160.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. BNP Paribas Exane initiated coverage on shares of Herc in a research report on Monday, June 29th. They issued a "neutral" rating and a $160.00 price target for the company. Citigroup boosted their price target on Herc from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 9th. Finally, KeyCorp lowered their price objective on Herc from $190.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Herc presently has an average rating of "Hold" and an average target price of $170.57.

Herc Stock Performance

Shares of HRI traded down $1.69 during midday trading on Monday, reaching $147.22. 83,136 shares of the stock were exchanged, compared to its average volume of 594,766. Herc has a twelve month low of $88.45 and a twelve month high of $188.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. The company has a market cap of $4.92 billion, a P/E ratio of -545.24, a PEG ratio of 26.96 and a beta of 1.88. The stock's 50 day simple moving average is $139.48 and its 200 day simple moving average is $137.29.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.42. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $1.30 earnings per share. Herc's revenue was up 32.3% compared to the same quarter last year. On average, sell-side analysts expect that Herc will post 5.31 earnings per share for the current year.

Institutional Trading of Herc

Several large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its stake in Herc by 38.2% during the second quarter. Handelsbanken Fonder AB now owns 10,850 shares of the transportation company's stock worth $1,555,000 after acquiring an additional 3,000 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Herc by 61.4% in the 1st quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company's stock valued at $69,000 after purchasing an additional 264 shares in the last quarter. Argent Capital Management LLC grew its holdings in shares of Herc by 55.9% during the 1st quarter. Argent Capital Management LLC now owns 10,286 shares of the transportation company's stock valued at $1,024,000 after purchasing an additional 3,688 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Herc by 147.8% during the 1st quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company's stock valued at $23,426,000 after purchasing an additional 140,355 shares during the last quarter. Finally, Seven Six Capital Management LLC increased its position in Herc by 43.0% during the 1st quarter. Seven Six Capital Management LLC now owns 32,575 shares of the transportation company's stock worth $3,243,000 after purchasing an additional 9,800 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

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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