Manchester Financial Inc. Acquires Shares of 5,000 Herc Holdings Inc. (NYSE:HRI)

Manchester Financial Inc. acquired a new stake in Herc Holdings Inc. (NYSE:HRI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,000 shares of the transportation company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NumerixS Investment Technologies Inc raised its position in shares of Herc by 115.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,800 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Herc during the 1st quarter worth approximately $173,000. Sullivan Bruyette Speros & Blaney LLC acquired a new position in shares of Herc during the 1st quarter worth approximately $292,000. Bank of Montreal Can raised its position in shares of Herc by 340.4% during the 1st quarter. Bank of Montreal Can now owns 7,658 shares of the transportation company’s stock worth $299,000 after purchasing an additional 5,919 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Herc by 359.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,803 shares of the transportation company’s stock worth $203,000 after purchasing an additional 6,106 shares during the last quarter. 92.39% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on HRI shares. ValuEngine upgraded Herc from a “strong sell” rating to a “sell” rating in a research report on Thursday. TheStreet upgraded Herc from a “d+” rating to a “c-” rating in a research report on Friday, June 28th. Bank of America initiated coverage on Herc in a research report on Friday, June 14th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Zacks Investment Research upgraded Herc from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.50.

Shares of HRI opened at $45.84 on Friday. The company has a fifty day simple moving average of $43.60. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $1.32 billion, a P/E ratio of 27.45, a PEG ratio of 0.47 and a beta of 3.33. Herc Holdings Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $57.05.

Herc (NYSE:HRI) last issued its quarterly earnings results on Thursday, August 1st. The transportation company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.06). The business had revenue of $475.10 million during the quarter, compared to analyst estimates of $495.39 million. Herc had a net margin of 3.59% and a return on equity of 12.16%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, research analysts anticipate that Herc Holdings Inc. will post 3.37 earnings per share for the current year.

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.

Further Reading: What does a market perform rating mean?

Institutional Ownership by Quarter for Herc (NYSE:HRI)

Receive News & Ratings for Herc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herc and related companies with MarketBeat.com's FREE daily email newsletter.