Herc (NYSE:HRI) Price Target Raised to $160.00

Herc (NYSE:HRIGet Rating) had its price objective upped by KeyCorp from $145.00 to $160.00 in a report released on Tuesday morning, The Fly reports. KeyCorp currently has an overweight rating on the transportation company’s stock. KeyCorp also issued estimates for Herc’s Q1 2023 earnings at $2.52 EPS, Q2 2023 earnings at $3.41 EPS, Q3 2023 earnings at $4.90 EPS, Q4 2023 earnings at $4.39 EPS and FY2023 earnings at $15.22 EPS.

Several other equities research analysts also recently commented on HRI. The Goldman Sachs Group dropped their target price on Herc from $168.00 to $150.00 and set a buy rating on the stock in a report on Friday, October 14th. StockNews.com assumed coverage on Herc in a research note on Wednesday, October 12th. They set a hold rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $167.60.

Herc Stock Down 1.4 %

HRI opened at $132.09 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.65. The firm has a market cap of $3.86 billion, a P/E ratio of 13.18, a PEG ratio of 0.56 and a beta of 2.55. Herc has a 52 week low of $83.43 and a 52 week high of $194.90. The business’s fifty day simple moving average is $116.31 and its 200 day simple moving average is $112.00.

Herc (NYSE:HRIGet Rating) last released its 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). Herc had a return on equity of 30.20% and a net margin of 12.01%. The business had revenue of $745.10 million for the quarter. As a group, equities research analysts anticipate that Herc will post 11.4 EPS for the current fiscal year.

Insider Buying and Selling at Herc

In other news, major shareholder Carl C. Icahn sold 5,432 shares of Herc stock in a transaction that occurred 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 approximately $526,303,984.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Carl C. Icahn sold 5,432 shares of Herc stock in a transaction that occurred 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 approximately $526,303,984.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Carl C. Icahn sold 39,700 shares of Herc stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $132.99, for a total value of $5,279,703.00. Following the completion of the transaction, the insider now owns 3,975,421 shares of the company’s stock, valued at approximately $528,691,238.79. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Trading of Herc

Hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in Herc during the 3rd quarter valued at $927,000. FourThought Financial LLC raised its stake in shares of Herc by 46.7% in the 3rd quarter. FourThought Financial LLC now owns 1,413 shares of the transportation company’s stock worth $147,000 after buying an additional 450 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Herc by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,151,329 shares of the transportation company’s stock worth $223,480,000 after buying an additional 6,855 shares in the last quarter. State Street Corp raised its stake in shares of Herc by 0.8% in the 3rd quarter. State Street Corp now owns 514,024 shares of the transportation company’s stock worth $53,397,000 after buying an additional 4,054 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Herc by 241.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 26,741 shares of the transportation company’s stock worth $2,778,000 after buying an additional 18,920 shares in the last quarter. Institutional investors own 94.67% 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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