HRI Price Prediction Next Week
Technical Analysis
The recent price action shows HRI has entered oversold territory with an RSI reading of 28.8, suggesting potential buying opportunities. The stock is currently trading at $156.59, significantly below its 52-week high of $246.88.
News Analysis & Recent Events
A major catalyst for HRI is the recently announced binding agreement to acquire H&E Equipment Services (HEES). This strategic acquisition could strengthen HRI's market position in the equipment rental industry.
Analyst Consensus & Price Targets
According to recent analyst coverage, HRI has significant upside potential. The average analyst target price is $230.17, representing a 60.42% upside from recent trading levels. This bullish outlook is supported by the company's strategic expansion through acquisitions.
Price Prediction for Next Week
Based on technical and fundamental factors:
- Base Case (60% probability): $160-165
- Oversold conditions likely to trigger a technical bounce
- Support from the strategic acquisition news
- Bullish Case (25% probability): $165-170
- Strong rebound from oversold levels
- Positive analyst sentiment driving institutional buying
- Bearish Case (15% probability): $150-155
- Continued market weakness
- Integration concerns regarding the HEES acquisition
Trading Recommendation
BUY with an entry point at current levels ($156.59)
- Set stop loss at $150
- Initial target: $165
- Secondary target: $170
Rationale:
- Oversold technical conditions suggest a bounce
- Strong analyst price targets provide fundamental support
- Strategic acquisition could drive near-term positive sentiment
- Risk/reward ratio is favorable at current levels
HRI Similar Chart Price Prediction
The price of HRI is predicted to go up 1.89%, based on the high correlation periods with BUI. The similarity of these two price pattern on the periods is 98.79%.
HRI
BUI
Up: 1.89%Similarity: 98.79%
HRI Revenue Forecast
HRI EPS Forecast
HRI FAQs
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HRI VS S&P500
Increased equipment rental penetration in North America could result in more general equipment rentals, driving higher sales growth for Herc.
An increase in US infrastructure spending over the next few years could lead to greater demand for Herc's products.
Herc's growing focus on building up its specialty fleet could lead to higher dollar utilization and increased profitability.
HRI Analyst's Forecast
Adam Seiden
Barclays
Buy
2024-10-23
Price Target
$175 → $250
Upside
+19.3%
Barclays raised the firm's price target on Herc Holdings to $250 from $175 and keeps an Overweight rating on the shares post the Q3 report. The firm says the company's 50% valuation discount to peers "is likely unsustainable." Herc has similar fleet, customers, and regional coverage, and macro catalysts favor the company with less mega project risk and more macro upside from local, the analyst tells investors in a research note.
Tami Zakaria
JP Morgan
Hold
2024-10-23
Price Target
$200 → $240
Upside
+14.53%
Tami Zakaria
JP Morgan
Hold
2024-10-14
Price Target
$150 → $200
Upside
+18.05%
