Short Interest in Herc Holdings Inc. (NYSE:HRI) Drops By 20.4%

Herc Holdings Inc. (NYSE:HRI) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 396,000 shares, a decline of 20.4% from the June 30th total of 497,500 shares. Based on an average trading volume of 225,600 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.4% of the company’s stock are sold short.

Shares of Herc stock opened at $39.25 on Thursday. The business has a fifty day moving average price of $43.48. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.80 and a quick ratio of 0.80. Herc has a 1-year low of $24.16 and a 1-year high of $53.65. The firm has a market capitalization of $1.13 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 0.36 and a beta of 3.35.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, August 1st. The transportation company reported $0.33 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $475.10 million during the quarter, compared to analyst estimates of $495.39 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Herc’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Herc will post 3.15 EPS for the current year.



A number of research firms have issued reports on HRI. Zacks Investment Research upgraded shares of Herc from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday. Bank of America began coverage on shares of Herc in a research note on Friday, June 14th. They issued a “buy” rating and a $50.00 target price for the company. ValuEngine upgraded shares of Herc from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, TheStreet upgraded shares of Herc from a “d+” rating to a “c-” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.67.

Several institutional investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its holdings in Herc by 47.1% in the 2nd 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 period. Marshall Wace LLP grew its holdings in shares of Herc by 19.8% in the 2nd quarter. Marshall Wace LLP now owns 301,289 shares of the transportation company’s stock worth $13,809,000 after purchasing an additional 49,796 shares during the last quarter. Man Group plc bought a new stake in shares of Herc in the 2nd quarter worth about $559,000. Nut Tree Capital Management LP grew its holdings in shares of Herc by 7.1% in the 2nd quarter. Nut Tree Capital Management LP now owns 750,000 shares of the transportation company’s stock worth $34,373,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Herc by 26.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 45,834 shares of the transportation company’s stock worth $2,101,000 after purchasing an additional 9,695 shares during the last quarter. Institutional investors and hedge funds own 92.16% 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.

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