Herc (NYSE:HRI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Herc (NYSE:HRI) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “

HRI has been the topic of a number of other reports. TheStreet raised Herc from a d+ rating to a c- rating in a research report on Friday, June 28th. ValuEngine raised Herc from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Finally, Bank of America assumed coverage on Herc in a research report on Friday, June 14th. They set a buy rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $52.67.

HRI stock opened at $40.44 on Wednesday. Herc has a twelve month low of $24.16 and a twelve month high of $53.65. The company has a market cap of $1.13 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 0.35 and a beta of 3.35. The business’s 50-day simple moving average is $43.28 and its 200 day simple moving average is $41.51. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.89.

Herc (NYSE:HRI) last released its earnings results on Thursday, August 1st. The transportation company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). Herc had a return on equity of 13.44% and a net margin of 4.10%. The firm had revenue of $475.10 million for the quarter, compared to analyst estimates of $495.39 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Herc will post 3.15 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Herc by 1.8% during the second quarter. Swiss National Bank now owns 39,746 shares of the transportation company’s stock valued at $1,822,000 after purchasing an additional 700 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Herc by 13.5% in the second quarter. JPMorgan Chase & Co. now owns 6,621 shares of the transportation company’s stock valued at $304,000 after acquiring an additional 786 shares during the last quarter. Northern Trust Corp raised its stake in shares of Herc by 0.3% in the second quarter. Northern Trust Corp now owns 301,180 shares of the transportation company’s stock valued at $13,803,000 after acquiring an additional 793 shares during the last quarter. Aperio Group LLC raised its stake in shares of Herc by 10.8% in the second quarter. Aperio Group LLC now owns 10,812 shares of the transportation company’s stock valued at $495,000 after acquiring an additional 1,056 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Herc in the second quarter valued at approximately $49,000. 92.16% of the stock is currently owned by institutional investors.

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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