JPMorgan Chase & Co. Increases Herc (NYSE:HRI) Price Target to $240.00

Herc (NYSE:HRI) had its price objective raised by JPMorgan Chase & Co. from $200.00 to $240.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird restated a “neutral” rating and issued a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Herc currently has a consensus rating of “Hold” and an average target price of $212.25.

Herc Stock Performance

Shares of NYSE HRI opened at $209.47 on Wednesday. The company has a market cap of $5.95 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07. Herc has a 12 month low of $102.32 and a 12 month high of $214.16. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50-day simple moving average of $155.78 and a 200-day simple moving average of $147.41.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). The firm had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $931.33 million. Herc had a return on equity of 27.16% and a net margin of 10.09%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.00 earnings per share. On average, equities analysts anticipate that Herc will post 13.17 earnings per share for the current year.

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 1.27%. Herc’s payout ratio is 21.75%.

Insider Activity at Herc

In other Herc news, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the transaction, the director now directly owns 13,774 shares of the company’s stock, valued at $2,876,424.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Herc news, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the transaction, the director now directly owns 13,774 shares of the company’s stock, valued at $2,876,424.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the transaction, the chief operating officer now directly owns 38,232 shares in the company, valued at approximately $5,609,016.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,701 shares of company stock worth $3,203,074. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HRI. Capital Research Global Investors lifted its position in shares of Herc by 185.7% during the first quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock worth $28,720,000 after purchasing an additional 110,922 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Herc by 18.4% during the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock worth $74,908,000 after purchasing an additional 87,330 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Herc by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,898,147 shares of the transportation company’s stock worth $431,505,000 after purchasing an additional 60,715 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in shares of Herc during the first quarter worth $8,667,000. Finally, Candriam S.C.A. acquired a new position in shares of Herc during the second quarter worth $4,556,000. 93.11% 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.