Herc Holdings Inc. (NYSE:HRI) Short Interest Update

Herc Holdings Inc. (NYSE:HRI) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 606,900 shares, a growth of 53.3% from the July 31st total of 396,000 shares. Based on an average daily trading volume, of 219,300 shares, the short-interest ratio is currently 2.8 days. Currently, 2.1% of the shares of the stock are sold short.

Shares of Herc stock traded up $1.25 during trading on Friday, reaching $49.00. The company’s stock had a trading volume of 358,002 shares, compared to its average volume of 225,983. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.89. Herc has a 12-month low of $24.16 and a 12-month high of $52.94. The company has a market capitalization of $1.40 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 0.40 and a beta of 3.38. The business has a 50 day moving average price of $41.85 and a 200-day moving average price of $41.69.

Herc (NYSE:HRI) last posted its earnings results on Thursday, August 1st. The transportation company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.04). The firm had revenue of $475.10 million for the quarter, compared to analysts’ expectations of $495.39 million. Herc had a return on equity of 13.44% and a net margin of 4.10%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Research analysts predict that Herc will post 3.15 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of HRI. Magnetar Financial LLC increased its stake in Herc by 43.1% during the second quarter. Magnetar Financial LLC now owns 19,072 shares of the transportation company’s stock worth $874,000 after acquiring an additional 5,748 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new position in Herc during the 2nd quarter worth approximately $1,724,000. United Services Automobile Association bought a new position in Herc during the 2nd quarter worth approximately $306,000. Zacks Investment Management bought a new position in Herc during the 2nd quarter worth approximately $1,810,000. Finally, Nuveen Asset Management LLC bought a new position in Herc during the 2nd quarter worth approximately $22,811,000. Institutional investors own 93.44% of the company’s stock.

A number of brokerages have recently issued reports on HRI. Buckingham Research set a $70.00 target price on Herc and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America set a $52.00 price objective on Herc and gave the company a “buy” rating in a research note on Thursday, August 29th. TheStreet raised Herc from a “d+” rating to a “c-” rating in a research note on Friday, June 28th. Zacks Investment Research raised Herc from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, August 15th. Finally, ValuEngine raised Herc from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.43.

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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