Robert W. Baird Issues Pessimistic Forecast for Herc (NYSE:HRI) Stock Price

Key Points

• Robert W. Baird has lowered the target price for Herc (NYSE:HRI) from $142.00 to $137.00, maintaining a "neutral" rating on the stock.
• Herc's stock is currently trading at $120.88, with a potential upside of 13.34% based on the new price target.
• Various analysts have adjusted their ratings and price targets for Herc, with a consensus price target of $144.60, indicating a "Moderate Buy" sentiment overall.

Herc (NYSE:HRI - Free Report) had its price target decreased by Robert W. Baird from $142.00 to $137.00 in a report published on Wednesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the transportation company's stock.

Several other research firms have also recently issued reports on HRI. Citigroup reaffirmed a "buy" rating and set a $140.00 price target (up from $130.00) on shares of Herc in a research note on Tuesday, June 24th. Barclays decreased their price objective on shares of 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. cut their target price on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $146.00 target price (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.60.

Herc Price Performance

Shares of NYSE HRI traded down $1.34 during mid-day trading on Wednesday, hitting $115.48. 145,416 shares of the company's stock traded hands, compared to its average volume of 526,186. 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 has a 1 year low of $96.18 and a 1 year high of $246.88. The company has a market capitalization of $3.84 billion, a P/E ratio of 134.27, a PEG ratio of 2.94 and a beta of 1.86. The company's 50-day moving average is $129.20 and its two-hundred day moving average is $142.31.

Herc (NYSE:HRI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $868.23 million. Herc had a net margin of 0.61% and a return on equity of 20.77%. On average, equities analysts anticipate that Herc will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, May 30th. Herc's payout ratio is presently 325.58%.

Institutional Investors Weigh In On Herc

Several institutional investors have recently bought and sold shares of HRI. Ashton Thomas Private Wealth LLC purchased a new position in shares of Herc in the 2nd quarter worth $213,000. Nisa Investment Advisors LLC lifted its stake in Herc by 108.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,226 shares of the transportation company's stock worth $293,000 after purchasing an additional 1,160 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Herc in the 2nd quarter valued at approximately $36,000. RedJay Asset Management Inc. lifted its position in shares of Herc by 79.5% during the 2nd quarter. RedJay Asset Management Inc. now owns 35,000 shares of the transportation company's stock worth $4,609,000 after purchasing an additional 15,500 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in Herc by 36.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 17,308 shares of the transportation company's stock valued at $2,279,000 after acquiring an additional 4,657 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.