Herc (HRI) Given a $60.00 Price Target by Barclays Analysts

Barclays set a $60.00 target price on Herc (NYSE:HRI) in a report issued on Friday morning. The firm currently has a buy rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Herc from a buy rating to a hold rating in a research note on Wednesday, August 8th. Buckingham Research upgraded shares of Herc from a neutral rating to a buy rating and boosted their target price for the company from $67.00 to $70.00 in a research note on Friday, July 13th. Northcoast Research upgraded shares of Herc from a neutral rating to a buy rating and set a $49.00 target price on the stock in a research note on Monday, October 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Herc from a buy rating to a hold rating in a research note on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $59.14.

HRI remained flat at $$38.04 during trading on Friday. 646,088 shares of the company’s stock were exchanged, compared to its average volume of 386,025. Herc has a 1 year low of $30.60 and a 1 year high of $72.99. The company has a debt-to-equity ratio of 4.48, a current ratio of 0.84 and a quick ratio of 0.80. The firm has a market capitalization of $978.54 million, a P/E ratio of -118.88 and a beta of 2.73.

Herc (NYSE:HRI) last issued its earnings results on Thursday, November 8th. The transportation company reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.67. Herc had a net margin of 11.61% and a return on equity of 3.55%. The company had revenue of $516.20 million for the quarter, compared to the consensus estimate of $499.86 million. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts forecast that Herc will post 1.36 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Herc by 77.9% in the second quarter. Bank of New York Mellon Corp now owns 624,247 shares of the transportation company’s stock valued at $35,171,000 after buying an additional 273,404 shares during the last quarter. Delek Group Ltd. bought a new position in shares of Herc in the second quarter valued at about $7,745,000. Gamco Investors INC. ET AL raised its holdings in shares of Herc by 3.4% in the third quarter. Gamco Investors INC. ET AL now owns 3,513,149 shares of the transportation company’s stock valued at $179,873,000 after buying an additional 114,502 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Herc by 7.0% in the second quarter. BlackRock Inc. now owns 1,671,377 shares of the transportation company’s stock valued at $94,167,000 after buying an additional 109,882 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Herc by 1,655.6% in the third quarter. Canada Pension Plan Investment Board now owns 81,863 shares of the transportation company’s stock valued at $4,191,000 after buying an additional 77,200 shares during the last quarter. Institutional investors own 94.37% of the company’s stock.

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.

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Analyst Recommendations for Herc (NYSE:HRI)

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