Herc Holdings Inc. (NYSE:HRI) Sees Significant Increase in Short Interest

Herc Holdings Inc. (NYSE:HRI) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 601,100 shares, an increase of 12.9% from the April 30th total of 532,200 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 205,000 shares, the days-to-cover ratio is currently 2.9 days.

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in Herc by 95.0% in the first quarter. First Trust Advisors LP now owns 81,865 shares of the transportation company’s stock valued at $3,191,000 after acquiring an additional 39,880 shares during the last quarter. Delek Group Ltd. increased its stake in Herc by 47.6% in the first quarter. Delek Group Ltd. now owns 239,863 shares of the transportation company’s stock valued at $9,304,000 after acquiring an additional 77,397 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Herc in the first quarter valued at $819,000. Impala Asset Management LLC bought a new position in Herc in the first quarter valued at $6,760,000. Finally, Schneider Capital Management Corp increased its stake in Herc by 0.5% in the first quarter. Schneider Capital Management Corp now owns 683,583 shares of the transportation company’s stock valued at $26,646,000 after acquiring an additional 3,485 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

HRI stock traded up $1.95 during mid-day trading on Friday, reaching $45.20. The company had a trading volume of 135,240 shares, compared to its average volume of 202,210. Herc has a 52 week low of $24.16 and a 52 week high of $61.01. The company has a market capitalization of $1.30 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 0.46 and a beta of 3.33. The stock’s 50 day moving average is $40.92. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.12 and a quick ratio of 1.12.

Herc (NYSE:HRI) last released its quarterly earnings results on Thursday, May 2nd. The transportation company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The business had revenue of $475.70 million during the quarter, compared to analysts’ expectations of $455.90 million. Herc had a return on equity of 12.16% and a net margin of 3.59%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) EPS. As a group, equities analysts expect that Herc will post 3.21 EPS for the current fiscal year.

A number of research analysts recently issued reports on HRI shares. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. TheStreet downgraded The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th. Bank of America decreased their price target on Micron Technology from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, June 14th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Longbow Research initiated coverage on H&E Equipment Services in a research note on Friday, March 29th. They issued a “buy” rating and a $34.00 price target for the company. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $53.50.

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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