By otakuyassine3@gmail.com 
Herc Holdings Inc. (NYSE:HRI – Get Free Report) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 670,000 shares, a decrease of 12.3% from the November 15th total of 763,700 shares. Based on an average daily volume of 320,500 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.4% of the shares of the company are short sold.
Insider Buying and Selling at Herc
In related news, Director Michael A. Kelly sold 3,880 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total value of $810,260.40. Following the transaction, the director now owns 13,774 shares in the company, valued at approximately $2,876,424.42. This represents a 21.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Samuel Wade Sheek sold 5,000 shares of Herc stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the sale, the senior vice president now owns 21,586 shares of the company’s stock, valued at approximately $4,600,408.32. The trade was a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Herc
Several institutional investors have recently bought and sold shares of HRI. Signaturefd LLC grew its holdings in shares of Herc by 27.7% during the third quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock worth $45,000 after buying an additional 61 shares in the last quarter. Covestor Ltd grew its stake in Herc by 70.4% during the 3rd quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 133 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Herc by 369.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 270 shares in the last quarter. GAMMA Investing LLC lifted its stake in Herc by 704.2% in the 3rd quarter. GAMMA Investing LLC now owns 386 shares of the transportation company’s stock worth $62,000 after purchasing an additional 338 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Herc in the 3rd quarter worth approximately $80,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
HRI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays raised their price objective on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $219.75.
Check Out Our Latest Report on HRI
Herc Price Performance
Shares of Herc stock traded down $0.82 on Friday, hitting $207.81. The company’s stock had a trading volume of 304,519 shares, compared to its average volume of 253,400. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.21 and a beta of 2.02. The firm has a fifty day moving average price of $208.32 and a 200-day moving average price of $164.23. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. Herc has a 1 year low of $124.70 and a 1 year high of $246.88.
Herc (NYSE:HRI – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.13). The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $931.33 million. Herc had a return on equity of 26.35% and a net margin of 10.09%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.00 earnings per share. As a group, sell-side analysts anticipate that Herc will post 13.59 earnings per share for the current fiscal year.
Herc Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.66 annualized dividend and a dividend yield of 1.28%. Herc’s dividend payout ratio (DPR) is presently 21.75%.
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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