Herc Holdings Inc. (NYSE:HRI – Get Rating) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 701,500 shares, a decrease of 13.1% from the August 15th total of 806,900 shares. Based on an average daily volume of 248,600 shares, the short-interest ratio is presently 2.8 days. Currently, 2.4% of the company's stock are short sold.
Institutional Investors Weigh In On Herc
A number of large investors have recently bought and sold shares of HRI. Ceredex Value Advisors LLC raised its holdings in shares of Herc by 546.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 711,800 shares of the transportation company's stock worth $64,169,000 after buying an additional 601,625 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Herc by 30.1% in the 1st quarter. Invesco Ltd. now owns 1,128,905 shares of the transportation company's stock valued at $188,630,000 after purchasing an additional 261,276 shares in the last quarter. Impax Asset Management Group plc increased its position in Herc by 20.7% during the 4th quarter. Impax Asset Management Group plc now owns 1,327,929 shares of the transportation company's stock worth $206,994,000 after purchasing an additional 227,854 shares in the last quarter. Franklin Resources Inc. increased its position in Herc by 36.4% during the 2nd quarter. Franklin Resources Inc. now owns 849,130 shares of the transportation company's stock worth $76,548,000 after purchasing an additional 226,404 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Herc in the second quarter valued at approximately $16,074,000. 94.67% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on HRI shares. Wells Fargo & Company dropped their price target on Herc to $165.00 in a research note on Friday, July 22nd. KeyCorp increased their price target on Herc from $130.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, August 22nd. Finally, The Goldman Sachs Group dropped their price target on Herc from $205.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.83.
Herc Stock Performance
Shares of HRI traded down $0.31 during midday trading on Tuesday, reaching $113.19. 171,488 shares of the stock were exchanged, compared to its average volume of 265,927. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.45. The stock's 50 day simple moving average is $114.51 and its 200 day simple moving average is $122.17. Herc has a twelve month low of $83.43 and a twelve month high of $203.14. The company has a market cap of $3.39 billion, a P/E ratio of 12.53, a PEG ratio of 0.39 and a beta of 2.69.
Herc (NYSE:HRI – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The transportation company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.11). Herc had a return on equity of 28.42% and a net margin of 11.76%. The business had revenue of $640.40 million during the quarter, compared to analyst estimates of $631.11 million. During the same quarter last year, the firm earned $1.57 EPS. Herc's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, sell-side analysts expect that Herc will post 11.81 earnings per share for the current year.
Herc Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 18th. This represents a $2.30 annualized dividend and a yield of 2.03%. Herc's dividend payout ratio is 25.47%.
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.
Further Reading
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