Herc (NYSE:HRI) Raised to B- at TheStreet

Last updated on Saturday, July 24, 2021 | 2021 MarketBeat

Herc (NYSE:HRI) was upgraded by equities researchers at TheStreet from a "c+" rating to a "b-" rating in a report issued on Thursday, TheStreetRatingsTable reports.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Herc from a "hold" rating to a "buy" rating and set a $123.00 price target for the company in a research note on Thursday, July 8th. KeyCorp increased their price target on shares of Herc from $135.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group increased their price target on shares of Herc from $125.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird raised their target price on shares of Herc from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Herc from $128.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Herc presently has a consensus rating of "Buy" and a consensus price target of $124.00.

NYSE HRI opened at $117.48 on Thursday. The company's 50-day simple moving average is $110.45. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.18. Herc has a 12-month low of $32.40 and a 12-month high of $120.88. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 0.43 and a beta of 3.08.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, July 22nd. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.24 by $0.33. The firm had revenue of $490.90 million during the quarter, compared to the consensus estimate of $456.93 million. Herc had a net margin of 8.09% and a return on equity of 21.88%. The company's quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities analysts expect that Herc will post 6.39 earnings per share for the current year.

In related news, CEO Lawrence Harris Silber sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $110.36, for a total value of $2,759,000.00. Following the sale, the chief executive officer now owns 141,660 shares in the company, valued at $15,633,597.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tamir Peres sold 3,962 shares of the stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $113.00, for a total transaction of $447,706.00. Following the completion of the transaction, the senior vice president now owns 20,685 shares in the company, valued at $2,337,405. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,791 shares of company stock worth $4,067,818. Corporate insiders own 1.30% of the company's stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRI. Fred Alger Management LLC bought a new stake in shares of Herc during the 1st quarter valued at $152,209,000. JPMorgan Chase & Co. raised its position in shares of Herc by 2,797.1% during the 1st quarter. JPMorgan Chase & Co. now owns 741,869 shares of the transportation company's stock valued at $75,173,000 after purchasing an additional 716,262 shares during the period. Norges Bank bought a new stake in shares of Herc during the 4th quarter valued at $23,818,000. Eaton Vance Management bought a new stake in Herc in the 1st quarter valued at $23,302,000. Finally, Loomis Sayles & Co. L P increased its holdings in Herc by 53.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 414,872 shares of the transportation company's stock valued at $42,039,000 after acquiring an additional 144,052 shares during the last quarter. Institutional investors and hedge funds own 95.57% 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.

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Analyst Recommendations for Herc (NYSE:HRI)

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