KeyCorp Raises Herc (NYSE:HRI) Price Target to $170.00

Herc (NYSE:HRIGet Rating) had its price objective lifted by investment analysts at KeyCorp from $160.00 to $170.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. KeyCorp’s price target would indicate a potential upside of 20.08% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Barclays increased their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 13th. StockNews.com started coverage on shares of Herc in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group decreased their target price on shares of Herc from $168.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Herc presently has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Herc Price Performance

Shares of NYSE HRI opened at $141.57 on Wednesday. The company has a 50 day simple moving average of $133.25 and a two-hundred day simple moving average of $119.50. Herc has a fifty-two week low of $83.43 and a fifty-two week high of $175.00. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 0.52 and a beta of 2.45. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.09 and a current ratio of 1.09.

Herc (NYSE:HRIGet Rating) last posted its quarterly earnings results on Thursday, October 20th. The transportation company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $3.52 by ($0.10). The company had revenue of $745.10 million during the quarter. Herc had a return on equity of 30.20% and a net margin of 12.01%. Analysts expect that Herc will post 11.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark Irion sold 4,194 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $131.37, for a total transaction of $550,965.78. Following the sale, the chief financial officer now owns 47,520 shares of the company’s stock, valued at approximately $6,242,702.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Herc news, CFO Mark Irion sold 4,194 shares of the business’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $131.37, for a total transaction of $550,965.78. Following the completion of the sale, the chief financial officer now directly owns 47,520 shares in the company, valued at approximately $6,242,702.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Carl C. Icahn sold 5,432 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $133.39, for a total value of $724,574.48. Following the completion of the transaction, the insider now owns 3,945,603 shares in the company, valued at $526,303,984.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,867 shares of company stock valued at $33,537,201. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Herc

Several hedge funds and other institutional investors have recently made changes to their positions in HRI. Raymond James & Associates boosted its holdings in shares of Herc by 60.9% in the first quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock worth $1,724,000 after buying an additional 3,904 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Herc by 90.9% in the first quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after acquiring an additional 150 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Herc by 52.6% during the 1st quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock worth $2,206,000 after acquiring an additional 4,549 shares during the last quarter. Rhumbline Advisers grew its position in shares of Herc by 3.3% during the 1st quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock valued at $4,740,000 after acquiring an additional 900 shares during the period. Finally, APG Asset Management N.V. bought a new stake in shares of Herc during the 1st quarter valued at $2,238,000. Hedge funds and other institutional investors own 96.85% of the company’s stock.

About Herc

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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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