Royal Bank of Canada Cuts Herc (HRI) Price Target to $60.00

Herc (NYSE:HRI) had its price objective reduced by research analysts at Royal Bank of Canada to $60.00 in a research report issued on Friday, The Fly reports. The firm currently has an “outperform” rating on the transportation company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 57.73% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Buckingham Research upgraded shares of Herc from a “neutral” rating to a “buy” rating and upped their target price for the company from $67.00 to $70.00 in a research report on Friday, July 13th. Barclays set a $60.00 target price on shares of Herc and gave the company a “buy” rating in a research report on Friday. Northcoast Research upgraded shares of Herc from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Monday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Herc from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, ValuEngine cut shares of Herc from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Herc has an average rating of “Hold” and a consensus target price of $59.14.

Shares of Herc stock opened at $38.04 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 22.38 and a beta of 2.73. Herc has a 52 week low of $30.60 and a 52 week 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.

Herc (NYSE:HRI) last issued its earnings results on Thursday, November 8th. The transportation company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.93 by $0.67. The company had revenue of $516.20 million during the quarter, compared to analysts’ expectations of $499.86 million. Herc had a net margin of 12.99% and a return on equity of 9.83%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts forecast that Herc will post 1.36 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its position in shares of Herc by 3.4% in the 3rd 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 in the last quarter. BlackRock Inc. increased its position in shares of Herc by 7.0% in the 2nd 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 in the last quarter. Gabelli Funds LLC increased its position in shares of Herc by 1.2% in the 3rd quarter. Gabelli Funds LLC now owns 1,219,715 shares of the transportation company’s stock valued at $62,449,000 after buying an additional 14,780 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Herc by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 986,107 shares of the transportation company’s stock valued at $55,558,000 after buying an additional 75,475 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Herc by 77.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.

Herc Company Profile

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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