Northcoast Research Downgrades Hertz Global Holdings Inc. (HTZ) to Neutral
Hertz Global Holdings Inc. (NYSE:HTZ) was downgraded by equities researchers at Northcoast Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday.
A number of other equities analysts have also recently issued reports on HTZ. Deutsche Bank AG lowered their price objective on shares of Hertz Global Holdings from $76.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Zacks Investment Research cut shares of Hertz Global Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Morgan Stanley started coverage on shares of Hertz Global Holdings in a research report on Tuesday, September 6th. They issued an “overweight” rating and a $57.00 price target for the company. MKM Partners set a $66.00 price target on shares of Hertz Global Holdings and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Goldman Sachs Group Inc. started coverage on shares of Hertz Global Holdings in a research report on Monday, October 24th. They issued a “sell” rating and a $29.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.89.
Shares of Hertz Global Holdings (NYSE:HTZ) opened at 28.01 on Tuesday. Hertz Global Holdings has a one year low of $17.20 and a one year high of $53.14. The firm has a market capitalization of $2.38 billion and a price-to-earnings ratio of 3.50. The company’s 50 day moving average is $36.36 and its 200-day moving average is $43.95.
Hertz Global Holdings (NYSE:HTZ) last released its quarterly earnings data on Monday, November 7th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.73 by $1.15. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.60 billion. Hertz Global Holdings’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. Equities analysts expect that Hertz Global Holdings will post $2.92 EPS for the current year.
In related news, major shareholder Carl C. Icahn bought 15,080,442 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $23.43 per share, with a total value of $353,334,756.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HTZ. Passport Capital LLC acquired a new position in Hertz Global Holdings during the second quarter worth $121,000. Mountain Lake Investment Management LLC acquired a new position in Hertz Global Holdings during the first quarter worth $158,000. Pitcairn Co. raised its position in Hertz Global Holdings by 3.8% in the second quarter. Pitcairn Co. now owns 14,363 shares of the company’s stock worth $159,000 after buying an additional 531 shares during the period. World Asset Management Inc raised its position in Hertz Global Holdings by 14.0% in the second quarter. World Asset Management Inc now owns 15,487 shares of the company’s stock worth $171,000 after buying an additional 1,898 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in Hertz Global Holdings during the first quarter worth $186,000. 42.94% of the stock is currently owned by institutional investors and hedge funds.
Hertz Global Holdings Company Profile
Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. It operates through four segments: U.S.
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