Herc (HRI) Downgraded by Zacks Investment Research

Herc (NYSE:HRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

Other equities analysts also recently issued reports about the stock. KeyCorp restated a “buy” rating and issued a $68.00 target price on shares of Herc in a research note on Monday, December 18th. Northcoast Research restated a “neutral” rating on shares of Herc in a research note on Tuesday, December 19th. Buckingham Research initiated coverage on shares of Herc in a research note on Tuesday, November 21st. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Barclays initiated coverage on shares of Herc in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.67.

Shares of Herc (HRI) opened at $62.70 on Wednesday. The company has a debt-to-equity ratio of 7.66, a current ratio of 1.09 and a quick ratio of 1.03. Herc has a 1 year low of $33.27 and a 1 year high of $65.93. The firm has a market cap of $1,780.00, a PE ratio of -26.34 and a beta of 3.83.

Herc (NYSE:HRI) last posted its quarterly earnings data on Wednesday, November 8th. The transportation company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.23. Herc had a negative net margin of 4.08% and a negative return on equity of 6.63%. The company had revenue of $457.60 million for the quarter, compared to analyst estimates of $422.31 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. equities research analysts predict that Herc will post -0.47 earnings per share for the current fiscal year.

In related news, Director Jean K. Holley bought 1,400 shares of the company’s stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $54.78 per share, for a total transaction of $76,692.00. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.12% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of HRI. Schneider Capital Management Corp grew its stake in Herc by 83.3% in the 2nd quarter. Schneider Capital Management Corp now owns 733,953 shares of the transportation company’s stock worth $28,859,000 after acquiring an additional 333,646 shares in the last quarter. Banbury Partners LLC boosted its stake in shares of Herc by 77.8% during the second quarter. Banbury Partners LLC now owns 513,693 shares of the transportation company’s stock valued at $20,198,000 after purchasing an additional 224,832 shares in the last quarter. Harris Associates L P boosted its stake in shares of Herc by 18.8% during the second quarter. Harris Associates L P now owns 1,399,518 shares of the transportation company’s stock valued at $55,029,000 after purchasing an additional 221,511 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Herc by 133.9% during the second quarter. Northern Trust Corp now owns 305,976 shares of the transportation company’s stock valued at $12,031,000 after purchasing an additional 175,184 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Herc by 43.0% during the second quarter. State Street Corp now owns 503,537 shares of the transportation company’s stock valued at $19,799,000 after purchasing an additional 151,386 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

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About Herc

Hertz Global Holdings, Inc (Hertz Global) is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global’s primary operating company. The Company operates through three segments. The U.S. Car Rental (U.S. RAC) segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States.

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