The Goldman Sachs Group Issues Pessimistic Forecast for Herc (NYSE:HRI) Stock Price

Herc (NYSE:HRI) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $234.00 to $201.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 48.79% from the company’s previous close.

Herc Stock Performance

Herc stock opened at $135.09 on Wednesday. The company has a 50 day moving average price of $174.48 and a 200-day moving average price of $183.49. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. Herc has a fifty-two week low of $119.60 and a fifty-two week high of $246.88. The company has a market capitalization of $3.84 billion, a PE ratio of 18.23, a P/E/G ratio of 1.61 and a beta of 2.14.

Herc (NYSE:HRI) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a net margin of 5.91% and a return on equity of 26.48%. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $919.84 million. As a group, equities analysts forecast that Herc will post 12.84 earnings per share for the current year.

Hedge Funds Weigh In On Herc

A number of large investors have recently bought and sold shares of HRI. Jones Financial Companies Lllp boosted its holdings in Herc by 878.9% in the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 167 shares during the last quarter. Quarry LP boosted its holdings in Herc by 646.7% in the fourth quarter. Quarry LP now owns 224 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 194 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Herc by 53.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 80 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Herc during the 4th quarter worth about $59,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Herc by 54.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock worth $70,000 after acquiring an additional 130 shares in the last quarter. 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.