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

Herc (NYSE:HRI) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $200.00 to $240.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.76% from the company’s current price.

Several other equities research analysts also recently weighed in on HRI. StockNews.com downgraded Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Herc presently has an average rating of “Hold” and a consensus price target of $199.80.

Herc Trading Down 0.2 %

Herc stock opened at $209.13 on Wednesday. The stock has a 50-day moving average price of $154.29 and a 200 day moving average price of $147.24. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.00 and a beta of 2.07. Herc has a 52 week low of $101.33 and a 52 week high of $214.16. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.91.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.13). The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $931.33 million. Herc had a net margin of 10.00% and a return on equity of 26.99%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.00 earnings per share. Sell-side analysts anticipate that Herc will post 13.68 EPS for the current year.

Insider Buying and Selling

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.71, for a total value of $1,467,100.00. Following the sale, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Tamir Peres sold 5,821 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the sale, the senior vice president now owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 38,232 shares in the company, valued at $5,609,016.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Herc

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Herc by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock worth $494,288,000 after acquiring an additional 38,798 shares during the last quarter. American Century Companies Inc. boosted its stake in Herc by 18.4% during the 2nd 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Herc by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 198,358 shares of the transportation company’s stock worth $26,439,000 after buying an additional 12,277 shares in the last quarter. Capital Research Global Investors raised its position in shares of Herc by 185.7% in the first quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock valued at $28,720,000 after buying an additional 110,922 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Herc by 26.2% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,841 shares of the transportation company’s stock worth $14,107,000 after buying an additional 21,971 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.