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

Herc (NYSE:HRI) had its target price reduced by Royal Bank of Canada to $60.00 in a report published on Friday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the transportation company’s stock.

HRI has been the topic of a number of other reports. ValuEngine lowered Herc from a buy rating to a hold rating in a research note on Wednesday, August 8th. Zacks Investment Research lowered Herc from a buy rating to a hold rating in a research note on Tuesday, August 14th. Northcoast Research raised Herc from a neutral rating to a buy rating and set a $49.00 price target on the stock in a research note on Monday, October 22nd. They noted that the move was a valuation call. Barclays set a $60.00 price target on Herc and gave the company a buy rating in a research note on Friday. Finally, Buckingham Research raised Herc from a neutral rating to a buy rating and lifted their price target for the company from $67.00 to $70.00 in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $59.14.

Shares of HRI stock remained flat at $$38.04 during mid-day trading on Friday. The stock had a trading volume of 646,088 shares, compared to its average volume of 386,025. Herc has a 12-month low of $30.60 and a 12-month high of $72.99. The firm has a market capitalization of $978.54 million, a price-to-earnings ratio of -118.88 and a beta of 2.73. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 4.48.

Herc (NYSE:HRI) last announced its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.67. Herc had a return on equity of 3.55% and a net margin of 11.61%. The firm had revenue of $516.20 million for the quarter, compared to analyst estimates of $499.86 million. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts forecast that Herc will post 1.36 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in shares of Herc during the second quarter worth about $118,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of Herc by 138.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,581 shares of the transportation company’s stock worth $202,000 after acquiring an additional 2,081 shares during the last quarter. Natixis bought a new position in shares of Herc during the second quarter worth about $203,000. Xact Kapitalforvaltning AB bought a new position in shares of Herc during the first quarter worth about $238,000. Finally, Sun Life Financial INC bought a new position in shares of Herc during the second quarter worth about $213,000. 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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