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

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

Herc Trading Up 1.8 %

HRI opened at $135.09 on Wednesday. The firm has a market cap of $3.84 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.61 and a beta of 2.14. Herc has a 12 month low of $119.60 and a 12 month high of $246.88. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock has a 50-day moving average of $174.48 and a 200 day moving average of $183.49.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Argent Capital Management LLC boosted its position in shares of Herc by 38.2% during the fourth quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company’s stock valued at $1,308,000 after buying an additional 1,910 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Herc during the fourth quarter valued at approximately $5,377,000. State Street Corp boosted its position in shares of Herc by 0.5% during the third quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock valued at $106,165,000 after buying an additional 3,006 shares during the period. TT International Asset Management LTD boosted its position in shares of Herc by 324.6% during the third quarter. TT International Asset Management LTD now owns 14,346 shares of the transportation company’s stock valued at $2,287,000 after buying an additional 10,967 shares during the period. Finally, Motley Fool Wealth Management LLC boosted its position in shares of Herc by 26.4% during the third quarter. Motley Fool Wealth Management LLC now owns 82,863 shares of the transportation company’s stock valued at $13,211,000 after buying an additional 17,315 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.