Herc (NYSE:HRI) Hits New 1-Year High - Here's What Happened

Herc Holdings Inc. (NYSE:HRI - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $214.87 and last traded at $213.53, with a volume of 206112 shares changing hands. The stock had previously closed at $207.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Herc from $175.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Herc from $178.00 to $204.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Herc from a "buy" rating to a "hold" rating in a research note on Friday, July 12th. Robert W. Baird reaffirmed a "neutral" rating and issued a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Herc from $200.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $212.25.

Herc Stock Performance

The stock's fifty day moving average is $164.15 and its 200-day moving average is $149.57. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.89. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.21 and a beta of 2.02.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. The company's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.00 earnings per share. On average, analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, August 22nd. Herc's dividend payout ratio (DPR) is presently 21.75%.

Insider Activity at Herc

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the business's stock in a transaction dated 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 approximately $5,609,016.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares of the company's stock, valued at approximately $5,609,016.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Samuel Wade Sheek sold 5,000 shares of Herc stock in a transaction 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 completion of the sale, the senior vice president now owns 21,586 shares of the company's stock, valued at $4,600,408.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,880 shares of company stock valued at $3,342,960 over the last three months. 1.70% of the stock is owned by insiders.

Institutional Trading of Herc

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Herc by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company's stock valued at $494,288,000 after acquiring an additional 38,798 shares during the period. Tidal Investments LLC bought a new position in shares of Herc in the first quarter worth $990,000. SG Americas Securities LLC increased its position in shares of Herc by 226.4% during the second quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company's stock valued at $752,000 after buying an additional 3,914 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Herc by 232.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company's stock worth $2,461,000 after acquiring an additional 10,217 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Herc by 15,137.8% during the second quarter. Quest Partners LLC now owns 6,857 shares of the transportation company's stock worth $914,000 after acquiring an additional 6,812 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

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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