Shares of Herc Holdings (HRI) plunged 5.04% during Wednesday's trading session, following a series of analyst actions that lowered price targets for the equipment rental company. The stock's significant decline reflects investor concerns about the company's near-term prospects in light of these analyst adjustments.

Citigroup made the most substantial cut, reducing its price target for Herc Holdings to $140 from $170, although it maintained a Buy rating on the stock. Baird also lowered its price target to $137 from $142, while keeping a Neutral stance. These downward revisions in price targets suggest that analysts are becoming more cautious about Herc's growth potential or valuation in the current market environment.

Despite the reduced price targets, it's worth noting that Citigroup still maintains a Buy rating on Herc Holdings, indicating some level of confidence in the company's long-term prospects. However, the market's immediate reaction appears to be focused on the lowered expectations, as evidenced by the sharp decline in the stock price. Investors will likely be watching closely for any further analyst commentary or company updates that might provide more insight into Herc's financial outlook and business performance.