Herc (NYSE:HRI) Stock Price Down 7.1% – Here’s What Happened

Herc Holdings Inc. (NYSE:HRI) shares traded down 7.1% on Monday . The stock traded as low as $116.77 and last traded at $115.18. 43,084 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 382,398 shares. The stock had previously closed at $124.00.

Analyst Ratings Changes

HRI has been the topic of several recent research reports. Robert W. Baird decreased their target price on shares of Herc from $129.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Citigroup dropped their price objective on shares of Herc from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, Barclays cut their price objective on shares of Herc from $250.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.20.

Herc Trading Down 8.3%

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.61 and a beta of 1.85. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The company has a 50-day moving average price of $123.11 and a 200-day moving average price of $164.71.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $841.67 million. During the same quarter last year, the company earned $2.36 EPS. As a group, research analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.46%. Herc’s dividend payout ratio (DPR) is presently 62.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in Herc by 0.9% in the 4th quarter. Arizona State Retirement System now owns 7,829 shares of the transportation company’s stock valued at $1,482,000 after buying an additional 68 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Herc by 53.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock worth $44,000 after acquiring an additional 80 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Herc by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company’s stock worth $558,000 after buying an additional 94 shares during the last quarter. Xponance Inc. raised its holdings in shares of Herc by 5.1% in the 1st quarter. Xponance Inc. now owns 2,223 shares of the transportation company’s stock worth $298,000 after purchasing an additional 107 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Herc by 34.1% during the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company’s stock valued at $87,000 after buying an additional 117 shares in the last quarter. Hedge funds and other 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.