Herc (NYSE:HRI) Price Target Lowered to $125.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target for Herc from $165 to $125 and maintained a "neutral" rating, which the note says implies roughly a 20.9% upside from the prior close.
• Despite the JPMorgan cut, analysts remain mixed: Herc holds a consensus rating of "Moderate Buy" with an average price target of $166.14, as firms like Wells Fargo raised their target to $189 while several others trimmed theirs.
• Herc traded at $103.36 with a market cap of $3.45B; the company posted an EPS beat ($2.07 vs. $1.87 expected) but missed revenue, and shows high leverage (debt/equity 4.17) and a negative P/E.

Herc (NYSE:HRI - Get Free Report) had its price target cut by research analysts at JPMorgan Chase & Co. from $165.00 to $125.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 20.93% from the company's previous close.

Several other brokerages have also recently commented on HRI. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Herc in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on Herc from $170.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. Robert W. Baird lowered their price target on Herc from $200.00 to $198.00 and set an "outperform" rating on the stock in a report on Wednesday, February 18th. KeyCorp lowered their price target on Herc from $190.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, March 16th. Finally, Citigroup lowered their price target on shares of Herc from $185.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, March 9th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Herc currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.14.

Herc Stock Performance

Shares of HRI traded down $0.01 during mid-day trading on Friday, reaching $103.36. 121,142 shares of the company's stock traded hands, compared to its average volume of 606,244. The business's 50-day moving average price is $130.04 and its 200-day moving average price is $137.26. The stock has a market capitalization of $3.45 billion, a P/E ratio of -574.06, a price-to-earnings-growth ratio of 13.69 and a beta of 1.81. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31. Herc has a 12 month low of $88.45 and a 12 month high of $188.35.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the previous year, the company earned $3.58 earnings per share. The firm's quarterly revenue was up 27.1% compared to the same quarter last year. Equities analysts predict that Herc will post 12.84 earnings per share for the current year.

Institutional Investors Weigh In On Herc

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its position in Herc by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company's stock worth $151,889,000 after acquiring an additional 97,235 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in Herc in the third quarter worth about $7,876,000. SG Americas Securities LLC raised its position in Herc by 397.5% in the third quarter. SG Americas Securities LLC now owns 8,373 shares of the transportation company's stock worth $977,000 after purchasing an additional 6,690 shares in the last quarter. First Trust Advisors LP grew its stake in Herc by 12.7% during the third quarter. First Trust Advisors LP now owns 752,255 shares of the transportation company's stock worth $87,758,000 after buying an additional 84,586 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Herc by 15.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,484 shares of the transportation company's stock worth $9,685,000 after buying an additional 11,032 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

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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