Herc (NYSE:HRI) Rating Lowered to Hold at Zacks Investment Research

Herc (NYSE:HRI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, 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. “

Several other research analysts also recently issued reports on HRI. TheStreet raised shares of Herc from a “d+” rating to a “c-” rating in a research report on Friday, June 28th. ValuEngine raised shares of Herc from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Bank of America began coverage on shares of Herc in a research report on Friday, June 14th. They set a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $52.67.

Shares of Herc stock opened at $39.38 on Wednesday. Herc has a 1 year low of $24.16 and a 1 year high of $53.65. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $1.13 billion, a P/E ratio of 23.58, a PEG ratio of 0.36 and a beta of 3.35. The company’s fifty day moving average is $43.36 and its two-hundred day moving average is $41.52.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.04). Herc had a return on equity of 13.44% and a net margin of 4.10%. The business had revenue of $475.10 million for the quarter, compared to analysts’ expectations of $495.39 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts expect that Herc will post 3.15 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Zacks Investment Management acquired a new position in shares of Herc in the second quarter valued at approximately $1,810,000. Nuveen Asset Management LLC acquired a new position in shares of Herc in the second quarter valued at approximately $22,811,000. Price T Rowe Associates Inc. MD raised its position in shares of Herc by 24.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 21,496 shares of the transportation company’s stock valued at $985,000 after buying an additional 4,263 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Herc by 47.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,219 shares of the transportation company’s stock valued at $697,000 after buying an additional 4,876 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Herc by 19.8% in the second quarter. Marshall Wace LLP now owns 301,289 shares of the transportation company’s stock valued at $13,809,000 after buying an additional 49,796 shares during the last quarter. 92.16% of the stock is currently 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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