Shares of Herc Holdings Inc. (NYSE:HRI) traded today at $119.80, eclipsing its 52-week high. This new high was reached on below average trading volume as 88,000 shares traded hands, while the average 30-day volume is approximately 283,000 shares.
Herc Holdings Inc. share prices have moved between a 52-week high of $119.80 and a 52-week low of $32.40 and are now trading 261% above that low price at $117.10 per share.
Based on a current price of $117.10, Herc Holdings Inc. is currently 32.5% above its average consensus analyst price target of $79.00.
Herc Holdings is an equipment rental company that was spun out of Hertz Global in 2016. It is currently the third-largest equipment rental company in North America, after United Rentals and Sunbelt Rentals, with 3% market share. It serves construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-plus-year history, the company has rented equipment to its customers for intermittent use. Herc Holdings’ strategy now offers to industrial customers long-term rental schemes, where Herc maintains its own staff at the customer site. In 2019, Herc Holdings’ fleet included $3.8 billion of equipment at original cost. Annual companywide revenue was approximately $2 billion, including $1.7 billion in equipment rentals.
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