Shares of Herc Holdings Inc. (NYSE:HRI) traded at a new 52-week high today of $140.39. Approximately 70,000 shares have changed hands today, as compared to an average 30-day volume of 176,000 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 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.
In the past 52 weeks, shares of Herc Holdings Inc. have traded between a low of $34.95 and a high of $140.39 and is now at $137.19, which is 293% above that low price.
Based on a current price of $137.19, Herc Holdings Inc. is currently 56.3% above its average consensus analyst price target of $60.00.
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