Moving ahead with its expansion plans, Hertz Equipment Rental Corporation (“HERC”), a wing of Hertz Global Holdings Inc. (HTZ), announced the opening of a new facility in Sanford, FL. Located at 1501 W. 1st Street, Sanford, FL, the facility will serve the northern parts of Orlando, Daytona Beach and the neighboring area.
The 27,000-square-foot facility would assist in the region’s construction and road development projects by providing an array of equipments, including dirt, aerial, material handling, trucks and tools, for both sale and rent. It will also offer solutions for earth moving, environmental and aerial-related projects. Additionally, the facility will administer training, equipment services, parts and a 24 hour emergency service.
Hertz Equipment Rental plans to hold a grand opening ceremony for the facility on Jan 22. The company, which sees immense growth potential in the Florida market due to the steady revival of the construction business in the state, expects this facility to significantly enhance its presence in the area.
Hertz Equipment Rental has been progressing well with its expansion plans and has opened several facilities across the U.S. over the past few months. These include the facility in Panama City, Panama, opened in Oct 2014 and another one in Great Falls, MT, launched in Dec 2014.
Earlier in Mar 2014, Hertz, which competes with Avis Budget Group Inc. (CAR), had announced its decision to separate the company into two independent, publicly traded companies. The first company will retain its car rental businesses, comprising Hertz, Dollar, Thrifty and Firefly as well as its fleet-leasing services division called Donlen. The second company, named HERC, will include Hertz’s equipment rental business.
This Zacks Rank #5 (Strong Sell) company is under the scanner because of the ongoing review of its financial statements due to the accounting errors identified in its 2011 financial results. This entails complete review of its financial results for fiscal years 2011, 2012 and 2013.
Further, Hertz recently stated that it will be unable to file any updated statements before at least mid-2015 and that there is no guarantee of the process being completed by then either.
Better-ranked stocks in the same industry include comScore Inc. (SCOR) and ExamWorks Group Inc. (EXAM), both carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment