Wells Fargo & Company Issues Pessimistic Forecast for Herc (NYSE:HRI) Stock Price

Key Points

• Wells Fargo cut its price target on Herc from $189 to $160 but kept an "overweight" rating, implying roughly a 59.63% upside from current levels.
• Herc shares traded down to $100.23; analyst sentiment is mixed (six Buys, two Holds, one Sell) with an average target of $162, while the company shows high leverage (debt-to-equity 4.17) and a negative PE.

Herc (NYSE:HRI - Get Free Report) had its price target dropped by equities researchers at Wells Fargo & Company from $189.00 to $160.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 59.63% from the company's current price.

HRI has been the topic of several other reports. Robert W. Baird decreased their price target on shares of Herc from $200.00 to $198.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Herc from $165.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday. Citigroup decreased their price target on shares of Herc from $185.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, March 9th. Barclays upped their price target on shares of Herc from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Herc in a research note on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Herc has an average rating of "Moderate Buy" and an average target price of $162.00.

Herc Stock Performance

Shares of HRI stock traded down $2.73 on Monday, hitting $100.23. The company's stock had a trading volume of 16,858 shares, compared to its average volume of 599,295. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31. The stock's 50 day moving average is $129.23 and its 200-day moving average is $137.30. Herc has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The company has a market capitalization of $3.34 billion, a PE ratio of -559.58, a PEG ratio of 13.88 and a beta of 1.81.

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

Institutional Investors Weigh In On Herc

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake in Herc by 342.1% during the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company's stock worth $25,000 after buying an additional 130 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Herc by 53.1% during the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company's stock worth $29,000 after buying an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Herc during the third quarter worth about $31,000. Advisory Services Network LLC acquired a new stake in shares of Herc in the 3rd quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Herc in the 3rd quarter valued at approximately $40,000. 93.11% of the stock is currently 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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