Keybanc Maintains Overweight Rating for Herc Hldgs: Here's What You Need To Know

Keybanc has decided to maintain its Overweight rating of Herc Hldgs HRI and lower its price target from $160.00 to $150.00.

Shares of Herc Hldgs are trading down 4.34% over the last 24 hours, at $100.94 per share.

A move to $150.00 would account for a 48.61% increase from the current share price.

About Herc Hldgs

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 (4% market share) in North America, after United Rentals and Sunbelt Rentals, with a fleet size of $5.4 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.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.