The Latest Breaking News from Herc Holdings Inc

KeyBanc lowered the price target for Herc Holdings Inc (NYSE:HRI) to $155 (an upside of 48%) from $200 while maintaining the Overweight rating on the shares. While investors have become more cautious about the equipment rental industry dynamics due to rising cycle concerns and the potential impact on industrial and nonresidential construction demand in 2023,…

Herc Holdings Inc (NYSE:HRI) reported first-quarter FY22 sales growth of 25% year-on-year to $567.3 million, beating the consensus of $554.02 million. Equipment rental revenue increased 31.6% Y/Y to $526.8 million. Pricing increased 4.3% compared to the same period in 2021. Selling, general and administrative expenses rose 36.5% Y/Y to $89.4 million. Adjusted EBITDA rose…