Herc Holdings Experiences Significant Decrease in Short Interest

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Herc Holdings ($NYSE:HRI) Inc. (NYSE: HRI) recently experienced a significant decrease in short interest. The decrease comes at an opportune time for the company, as it has been able to capitalize on the market’s bullish sentiment. HERC Holdings is an American finance and leasing company that operates in the global equipment rental industry. It offers a wide range of products, ranging from aerial work platforms, earthmoving equipment, material handling, and other specialized equipment. Its customers include utility companies, construction companies, and industrial businesses. The company’s recent decrease in short interest was driven by a number of factors, including higher-than-expected earnings growth, positive news around management changes, and an increase in institutional ownership. This decrease in short interest has resulted in an increase in investor confidence, leading to higher stock prices for HERC holdings.

Additionally, the company’s solid balance sheet and strong cash flow have allowed it to capitalize on growth opportunities within the industry. HERC Holdings Inc. is well-positioned to continue to benefit from the current positive market sentiment. Its expansive product portfolio, strong financial position, and increasing institutional ownership are all positive indicators for the company’s future. With its robust capital structure and solid financials, HERC Holdings Inc. is well-positioned to capitalize on growth opportunities ahead.

Share Price

The stock opened at $146.9 and closed at $146.5, representing a slight increase of 0.5% from the previous close at $145.7. This downward shift in short interest indicates that fewer investors are expecting the stock to decline in value over the near future. Analysts attribute this change to a strong showing from the company’s third quarter earnings report and a bullish outlook for the coming year. Despite a challenging market environment, Herc Holdings has shown signs of resilience, and investors are taking notice. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Herc Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Herc Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Herc Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Herc Holdings are shown below. More…

Analysis

GoodWhale recently conducted an analysis of HERC HOLDINGS’s wellbeing. Our Star Chart gave the company an intermediate health score of 6/10, indicating that it might be able to safely ride out any crisis without the risk of bankruptcy due to its cash flows and debt. We classified HERC HOLDINGS as a ‘gorilla’, a type of company that we concluded has achieved stable and high revenue or earning growth due to its strong competitive advantage. As such, HERC HOLDINGS is likely to be attractive to certain types of investors. In particular, growth investors may be interested in the company due to its strong growth potential. However, investors looking for dividends, profitability or assets may find the company less appealing as HERC HOLDINGS is medium in dividend, profitability and weak in asset. More…

Peers

The company’s competitors include United Rentals Inc, Ashtead Group PLC, and H&E Equipment Services Inc.

– United Rentals Inc ($NYSE:URI)

United Rentals Inc is a North American equipment rental company with locations across the United States and Canada. The company has a market cap of 19.27B as of 2022 and a Return on Equity of 28.0%. United Rentals is the largest equipment rental company in the world, with over 850,000 rental items in their fleet. The company offers a wide variety of equipment for rent, including tools, aerial work platforms, and earthmoving equipment.

– Ashtead Group PLC ($LSE:AHT)

Ashtead Group PLC is a British multinational equipment rental company headquartered in Surrey, United Kingdom. It is the second-largest equipment rental company in the world, and has over 1,400 locations across 11 countries. The company offers a wide range of equipment for rent, including tools, aerial work platforms, cranes, and earthmoving equipment.

Ashtead Group PLC has a market cap of 18.89B as of 2022. The company’s return on equity (ROE) is 24.37%. Ashtead Group PLC is the second-largest equipment rental company in the world, and has over 1,400 locations across 11 countries. The company offers a wide range of equipment for rent, including tools, aerial work platforms, cranes, and earthmoving equipment.

– H&E Equipment Services Inc ($NASDAQ:HEES)

H&E Equipment Services, Inc. is a holding company, which engages in the provision of equipment rental and services. It operates through the following segments: Aerial, Earthmoving, Material Handling, and Construction Equipment. The Aerial segment offers boom lifts, scissor lifts, and telehandlers. The Earthmoving segment includes backhoe loaders, excavators, skid steer loaders, and track loaders. The Material Handling segment consists of container handlers, reach stackers, rough terrain forklifts, and telehandlers. The Construction Equipment segment comprises of compressors, generators, light towers, pumps, and welders. The company was founded in 1961 and is headquartered in Baton Rouge, LA.

Summary

Herc Holdings Inc. (NYSE:HRI) recently saw a huge drop in short interest. This suggests that investors have become less bearish on the stock. Analysts covering the company remain largely positive and believe that new products and expansion into new markets could lead to an increase in earnings and stock price in the coming months.

Additionally, the company has a strong balance sheet with healthy cash reserves, no debt, and a track record of consistent returns for shareholders. With all these factors, Herc Holdings appears to be a worthy investment opportunity at this time.