JPMorgan Chase & Co. Increases Herc (NYSE:HRI) Price Target to $200.00

Herc (NYSE:HRI) had its target price hoisted by JPMorgan Chase & Co. from $150.00 to $200.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on HRI. Robert W. Baird restated a “neutral” rating and set a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. StockNews.com cut Herc from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Herc has an average rating of “Hold” and a consensus target price of $170.75.

Herc Price Performance

HRI opened at $173.95 on Monday. The stock has a 50-day moving average price of $147.51 and a 200-day moving average price of $146.11. Herc has a 12-month low of $100.17 and a 12-month high of $178.93. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The stock has a market capitalization of $4.94 billion, a P/E ratio of 14.36, a PEG ratio of 1.00 and a beta of 2.07.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a return on equity of 26.99% and a net margin of 10.00%. The firm had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $813.05 million. Equities analysts predict that Herc will post 13.68 earnings per share for the current fiscal year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, August 22nd. Herc’s dividend payout ratio is presently 21.97%.

Insider Buying and Selling at Herc

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at $5,609,016.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at $5,609,016.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tamir Peres sold 5,821 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total value of $925,713.63. Following the transaction, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HRI. Capital Research Global Investors raised its position in shares of Herc by 185.7% in the 1st quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock worth $28,720,000 after acquiring an additional 110,922 shares in the last quarter. American Century Companies Inc. raised its position in shares of Herc by 18.4% in the 2nd quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock worth $74,908,000 after acquiring an additional 87,330 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Herc by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,898,147 shares of the transportation company’s stock worth $431,505,000 after acquiring an additional 60,715 shares in the last quarter. First Sabrepoint Capital Management LP bought a new position in shares of Herc in the 1st quarter worth approximately $8,667,000. Finally, Candriam S.C.A. bought a new position in shares of Herc in the 2nd quarter worth approximately $4,556,000. Institutional investors own 93.11% of the company’s stock.

About Herc

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.