Herc (NYSE:HRI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Herc (NYSE:HRI) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $50.00 target price on the transportation company’s stock.

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 analysts also recently issued research reports about the stock. Bank of America lowered their price objective on shares of Micron Technology from $50.00 to $43.00 and set a buy rating for the company in a research report on Friday, June 14th. Longbow Research started coverage on shares of H&E Equipment Services in a research report on Friday, March 29th. They issued a buy rating and a $34.00 price objective for the company. TheStreet downgraded shares of The Providence Service from a b- rating to a c+ rating in a research report on Friday, June 28th. Finally, ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $55.86.

NYSE HRI opened at $43.25 on Tuesday. Herc has a one year low of $24.16 and a one year high of $61.01. The firm has a 50 day simple moving average of $40.77. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 0.44 and a beta of 3.33.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, May 2nd. The transportation company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. Herc had a net margin of 3.59% and a return on equity of 12.16%. The company had revenue of $475.70 million during the quarter, compared to the consensus estimate of $455.90 million. During the same quarter last year, the company earned ($0.36) earnings per share. Herc’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Herc will post 3.21 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Herc by 46.0% during the 4th quarter. Rhumbline Advisers now owns 34,320 shares of the transportation company’s stock valued at $892,000 after purchasing an additional 10,814 shares during the last quarter. First Trust Advisors LP increased its position in shares of Herc by 5.7% during the 4th quarter. First Trust Advisors LP now owns 41,985 shares of the transportation company’s stock valued at $1,091,000 after purchasing an additional 2,273 shares during the last quarter. BlackRock Inc. increased its position in shares of Herc by 6.6% during the 4th quarter. BlackRock Inc. now owns 1,702,303 shares of the transportation company’s stock valued at $44,244,000 after purchasing an additional 105,654 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Herc by 107.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,850 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 7,675 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Herc by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,036,403 shares of the transportation company’s stock valued at $26,936,000 after purchasing an additional 25,536 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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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