Jefferies Starts Herc Holding (HRI) at Hold

November 29, 2016 6:36 AM EST
Get Alerts HRI Hot Sheet
Price: $43.12 -0.12%

Rating Summary:
    0 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies initiates coverage on Herc Holding (NYSE: HRI) with a Hold rating and a price target of $44.00.

Analyst Justin Jordan commented, "Post the June 2016 spin-off from Hertz, Herc Rentals (HRI) is #3 equipment rental operator. Herc's trading performance and returns lag peers, with 3.8x Net Debt/EBITDA leverage constraining expansion. Herc has a five-year ‘Path Forward’ improvement plan, focusing on boosting margins and returns. Trading on CY17 5.7x EV/ EBITDA, in line with larger peer URI, suggests considerable recovery is already priced in. Initiate at Hold with a $44 PT (based on 5.9x CY17 EV/EBITDA), reflecting leverage and plan execution concerns."

For an analyst ratings summary and ratings history on Herc Holding click here. For more ratings news on Herc Holding click here.

Shares of Herc Holding closed at $38.63 yesterday.

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