Herc (HRI) Downgraded by Zacks Investment Research to “Hold”

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Herc (NYSE:HRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

HRI has been the topic of a number of other reports. TheStreet raised Herc from a “d+” rating to a “c-” rating in a report on Thursday, February 28th. ValuEngine downgraded Herc from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, Longbow Research assumed coverage on Herc in a report on Friday, March 29th. They issued a “buy” rating and a $52.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.83.

Shares of NYSE:HRI traded down $1.10 during midday trading on Friday, reaching $39.64. 135,207 shares of the company’s stock traded hands, compared to its average volume of 229,537. The company has a market cap of $1.18 billion, a P/E ratio of 23.74 and a beta of 3.11. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.12 and a quick ratio of 1.12. Herc has a one year low of $24.16 and a one year high of $62.56.

Herc (NYSE:HRI) last announced its quarterly earnings results on Thursday, May 2nd. The transportation company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $475.70 million for the quarter, compared to the consensus estimate of $455.90 million. Herc had a return on equity of 12.16% and a net margin of 3.59%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.36) earnings per share. On average, sell-side analysts anticipate that Herc will post 3.15 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. QS Investors LLC lifted its holdings in Herc by 69.3% in the fourth quarter. QS Investors LLC now owns 92,737 shares of the transportation company’s stock valued at $2,411,000 after acquiring an additional 37,975 shares during the period. Gabelli Funds LLC raised its stake in shares of Herc by 16.2% in the fourth quarter. Gabelli Funds LLC now owns 1,417,515 shares of the transportation company’s stock worth $36,841,000 after buying an additional 197,800 shares during the period. Deutsche Bank AG raised its stake in shares of Herc by 206.6% in the fourth quarter. Deutsche Bank AG now owns 234,318 shares of the transportation company’s stock worth $6,089,000 after buying an additional 157,882 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Herc by 10.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,892,183 shares of the transportation company’s stock worth $101,158,000 after buying an additional 379,034 shares during the period. Finally, First Mercantile Trust Co. raised its stake in shares of Herc by 13.1% in the fourth quarter. First Mercantile Trust Co. now owns 4,975 shares of the transportation company’s stock worth $129,000 after buying an additional 575 shares during the period. 95.75% of the stock is currently owned by 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.

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