Shares of Herc Holdings Inc. (NYSE:HRI) traded today at $203.14, eclipsing its 52-week high. This new high was reached on below average trading volume as 148,000 shares traded hands, while the average 30-day volume is approximately 300,000 shares.
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 (3% market share) in North America, after United Rentals and Sunbelt Rentals, with a fleet size of $3.8 billion. It serves commercial and residential construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-year-plus history, the company has rented equipment such as aerial lifts to its customers for intermittent use. More recently, it has broadened its catalog to include a host of specialty items. Separately, Herc Holdings’ strategy now incorporates long-term rentals to industrial customers where Herc maintains its own staff at the customer site.
Herc Holdings Inc. share prices have moved between a 52-week high of $203.14 and a 52-week low of $44.91 and are now trading 338% above that low price at $196.83 per share.
Based on a current price of $196.83, Herc Holdings Inc. is currently 60.4% above its average consensus analyst price target of $78.00.
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