Herc (NYSE:HRI) Stock Jumps 4.2% – Here’s Why

Herc Holdings Inc. (NYSE:HRI) traded up 4.2% during mid-day trading on Monday. The company traded as high as $128.70 and last traded at $128.6360. 87,473 shares changed hands during trading, a decline of 85% from the average session volume of 601,725 shares. The stock had previously closed at $123.46.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HRI. BNP Paribas Exane boosted their price target on Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. KeyCorp lifted their price target on shares of Herc from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upgraded shares of Herc from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $165.00 to $175.00 in a research note on Thursday, September 10th. Weiss Ratings raised shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research raised shares of Herc from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.43.

Herc Trading Up 4.0%

The company has a market cap of $4.29 billion, a price-to-earnings ratio of 87.44 and a beta of 2.04. The firm has a 50-day moving average price of $148.18 and a 200 day moving average price of $137.44. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, July 28th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. Herc had a net margin of 1.01% and a return on equity of 10.33%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted $1.87 earnings per share. Herc’s revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that Herc Holdings Inc. will post 7.05 EPS for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. Herc’s dividend payout ratio (DPR) is currently 190.48%.

Institutional Investors Weigh In On Herc

Large investors have recently bought and sold shares of the business. State of Wyoming boosted its position in Herc by 21.0% during the first quarter. State of Wyoming now owns 616 shares of the transportation company’s stock worth $61,000 after purchasing an additional 107 shares during the period. HighTower Advisors LLC raised its position in shares of Herc by 4.1% in the second quarter. HighTower Advisors LLC now owns 3,386 shares of the transportation company’s stock valued at $485,000 after purchasing an additional 134 shares during the period. Swiss National Bank raised its position in shares of Herc by 0.3% in the first quarter. Swiss National Bank now owns 62,557 shares of the transportation company’s stock valued at $6,228,000 after purchasing an additional 200 shares during the period. NewEdge Advisors LLC raised its position in shares of Herc by 61.4% in the first quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 264 shares during the period. Finally, Midwest Financial Group LLC lifted its stake in shares of Herc by 14.5% in the first quarter. Midwest Financial Group LLC now owns 2,465 shares of the transportation company’s stock worth $245,000 after buying an additional 312 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

About Herc

Herc Holdings Inc is an equipment rental supplier operating under the Herc Rentals brand. The company provides construction, industrial, commercial and government customers with access to equipment and related services without requiring them to purchase and maintain their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, and general construction tools. Herc Rentals also offers specialty equipment and services for power generation, climate control, pumps, remediation, trench safety, and other specialized project requirements.