Stock Story -
What Happened?
Shares of equipment rental company Herc Holdings (NYSE:HRI) jumped 12.3% in the afternoon session after the company reported third-quarter earnings results that blew past analysts' revenue expectations. Notably, the top line outpaced overall industry growth on both a total rental revenue basis and from an organic revenue perspective, which is encouraging. The results were achieved amid tough comps relative to the previous year and a high interest rate environment, which impacted rental revenue. On the other hand, its EPS missed. Overall, we think this was a decent quarter, with some key metrics above expectations.Is now the time to buy Herc? Find out by reading the original article on StockStory, it’s free.
What The Market Is Telling Us
Herc’s shares are very volatile and have had 22 moves greater than 5% over the last year. But moves this big are rare even for Herc and indicate this news significantly impacted the market’s perception of the business.Herc is up 29.9% since the beginning of the year, and at $192.27 per share, has set a new 52-week high. Investors who bought $1,000 worth of Herc’s shares 5 years ago would now be looking at an investment worth $4,077.