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Why Herc Holdings Inc. (NYSE: HRI) Is A Great Stock Pick For Momentum Investors

Herc Holdings Inc. (NYSE:HRI) shares, rose in value on Friday, 05/13/22, with the stock price up by 2.63% to the previous day’s close as strong demand from buyers drove the stock to $111.95.

Actively observing the price movement in the last trading, the stock closed the session at $109.08, falling within a range of $110.523 and $114.295. The value of beta (5-year monthly) was 2.63 whereas the PE ratio was 13.64 over 12-month period. Referring to stock’s 52-week performance, its high was $203.14, and the low was $99.35. On the whole, HRI has fluctuated by -23.97% over the past month.

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With the market capitalization of Herc Holdings Inc. currently standing at about $3.50 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 20, 2022 – Apr 29, 2022. The company’s Forward Dividend Ratio is 2.30, with its dividend yield at 2.05%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.41, which is expected to increase to $2.17 for fiscal year $7.47 and then to about $11.77 by fiscal year 2022. Data indicates that the EPS growth is expected to be 148.20% in 2022, while the next year’s EPS growth is forecast to be 57.60%.

Analysts have estimated the company’s revenue for the quarter at $582.18 million, with a low estimate of $571.6 million and a high estimate of $606 million. According to the average forecast, sales growth in current quarter could jump up 11.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $2.08 billion, representing an increase of 16.70% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HRI’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

10 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 2 analyst(s), 7 recommend it as a Buy and 1 called the HRI stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.

The stock’s technical analysis shows that the PEG ratio is about 0.52, with the price of HRI currently trading nearly -14.15% and -22.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.97, while the 7-day volatility ratio is showing 6.44% which for the 30-day chart, stands at 6.02%. Furthermore, Herc Holdings Inc. (HRI)’s beta value is 2.63, and its average true range (ATR) is 7.61.

A comparison of Herc Holdings Inc. (HRI) with its peers suggests the former has fared considerably weaker in the market. HRI showed an intraday change of 2.63% in last session, and over the past year, it grew by 5.11%%. In comparison, MIND Technology Inc. (MIND) has moved lower at -1.60% on the day and was down -57.41% over the past 12 months. On the other hand, the price of Herc Holdings Inc. (HRI) has risen 2.63% on the day. The stock, however, is off 5.11% from where it was a year ago. The PE ratio stands at 13.64 for Herc Holdings Inc., and 13.64 for Herc Holdings Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for Herc Holdings Inc. (NYSE:HRI) indicates that the trading volumes over the past 10 days have averaged 0.28 million and over the past 3 months, they’ve averaged 286.13K. According to company’s latest data on outstanding shares, there are 29.80 million shares outstanding.

Nearly 1.10% of Herc Holdings Inc.’s shares belong to company insiders and institutional investors own 97.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.61 million shares as on Feb 14, 2022, resulting in a short ratio of 1.9. According to the data, the short interest in Herc Holdings Inc. (HRI) stood at 2.07% of shares outstanding as of Feb 14, 2022; the number of short shares registered in Jan 13, 2022 reached 0.64 million. The stock has fallen by -28.49% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HRI stock heading into the next quarter.

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