Herc (NYSE:HRI) Reaches New 1-Year High – Here’s Why

Herc Holdings Inc. (NYSE:HRI)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $214.87 and last traded at $213.53, with a volume of 206112 shares traded. The stock had previously closed at $207.00.

Analyst Ratings Changes

A number of analysts recently commented on HRI shares. Barclays lifted their price objective on Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. The Goldman Sachs Group upped their price target on Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird restated a “neutral” rating and issued a $155.00 price target on shares of Herc in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $212.25.

Herc Price Performance

The stock has a 50-day simple moving average of $169.34 and a 200 day simple moving average of $151.23. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.19 and a beta of 2.02.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. During the same period in the previous year, the business posted $4.00 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio (DPR) is currently 21.75%.

Insider Buying and Selling at Herc

In other Herc news, SVP Samuel Wade Sheek sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total value of $1,065,600.00. Following the sale, the senior vice president now owns 21,586 shares of the company’s stock, valued at $4,600,408.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the sale, the director now owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the completion of the sale, the senior vice president now directly owns 21,586 shares in the company, valued at approximately $4,600,408.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,880 shares of company stock valued at $3,342,960 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Herc

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Herc in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC raised its position in Herc by 650.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 208 shares during the last quarter. Signaturefd LLC raised its position in Herc by 27.7% in the 3rd quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 61 shares during the last quarter. Covestor Ltd raised its position in Herc by 70.4% in the 3rd quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 133 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Herc by 369.9% during the third quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock worth $55,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 93.11% 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.