Herc (NYSE:HRI) Hits New 12-Month High – Here’s What Happened

Herc Holdings Inc. (NYSE:HRI)’s share price hit a new 52-week high on Monday . The stock traded as high as $214.20 and last traded at $213.83, with a volume of 238375 shares traded. The stock had previously closed at $209.47.

Analyst Ratings Changes

A number of brokerages recently weighed in on HRI. JPMorgan Chase & Co. lifted their price objective on shares of Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird restated a “neutral” rating and set a $155.00 price objective on shares of Herc in a research report on Tuesday, July 23rd. Barclays boosted their price target on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut Herc from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Herc currently has an average rating of “Hold” and a consensus target price of $212.25.

Herc Stock Down 0.2 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.91. The stock has a market cap of $5.97 billion, a P/E ratio of 17.41, a PEG ratio of 1.26 and a beta of 2.07. The business has a 50-day simple moving average of $158.79 and a 200-day simple moving average of $148.05.

Herc (NYSE:HRI) last posted its earnings results 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 company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $931.33 million. Herc had a return on equity of 27.16% and a net margin of 10.09%. Herc’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.00 EPS. Analysts expect that Herc Holdings Inc. will post 13.17 EPS for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid 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 1.26%. Herc’s dividend payout ratio is 21.97%.

Insider Activity at Herc

In other news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction 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 owns 38,232 shares in the company, valued at approximately $5,609,016.72. The trade was 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 the SEC website. In other Herc news, SVP Samuel Wade Sheek sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the transaction, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aaron Birnbaum sold 10,000 shares of the business’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 owns 38,232 shares in the company, valued at $5,609,016.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,880 shares of company stock worth $3,342,960. Insiders own 1.80% of the company’s stock.

Institutional Trading of Herc

A number of institutional investors have recently made changes to their positions in HRI. Kovack Advisors Inc. increased its holdings in Herc by 172.4% in the 1st quarter. Kovack Advisors Inc. now owns 5,878 shares of the transportation company’s stock valued at $989,000 after acquiring an additional 3,720 shares during the last quarter. Oak Ridge Investments LLC grew its stake in Herc by 2.1% in the 1st quarter. Oak Ridge Investments LLC now owns 22,982 shares of the transportation company’s stock worth $3,868,000 after acquiring an additional 465 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Herc during the 1st quarter worth $960,000. Hunter Associates Investment Management LLC raised its holdings in shares of Herc by 30.5% in the first quarter. Hunter Associates Investment Management LLC now owns 8,947 shares of the transportation company’s stock valued at $1,516,000 after acquiring an additional 2,093 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Herc during the first quarter valued at approximately $2,331,000. 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.