Hertz Global Holdings Inc. (HTZ) PT Set at $33.00 by MKM Partners
Hertz Global Holdings Inc. (NYSE:HTZ) has been assigned a $33.00 price objective by equities researchers at MKM Partners in a report issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. MKM Partners’ price objective suggests a potential upside of 15.91% from the company’s current price.
A number of other equities research analysts also recently issued reports on HTZ. Northcoast Research reissued a “buy” rating on shares of Hertz Global Holdings in a research report on Tuesday, July 12th. Deutsche Bank AG lowered their price target on 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. Macquarie started coverage on Hertz Global Holdings in a research report on Thursday, August 25th. They set a “neutral” rating and a $56.00 price target for the company. Morgan Stanley started coverage on Hertz Global Holdings in a research report on Tuesday, September 6th. They set an “overweight” rating and a $57.00 price target for the company. Finally, Zacks Investment Research downgraded Hertz Global Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $50.89.
Shares of Hertz Global Holdings (NYSE:HTZ) opened at 28.47 on Wednesday. The stock’s 50 day moving average price is $35.84 and its 200 day moving average price is $43.78. Hertz Global Holdings has a 12 month low of $17.20 and a 12 month high of $53.14. The firm has a market cap of $2.42 billion and a price-to-earnings ratio of 3.56.
Hertz Global Holdings (NYSE:HTZ) last posted its quarterly earnings results 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 business earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts predict that Hertz Global Holdings will post $2.92 earnings per share for the current fiscal year.
In other news, major shareholder Carl C. Icahn acquired 1,244,831 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were purchased at an average price of $28.10 per share, for a total transaction of $34,979,751.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carl C. Icahn acquired 15,080,442 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were purchased at an average price of $23.43 per share, for a total transaction of $353,334,756.06. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL purchased a new stake in shares of Hertz Global Holdings during the second quarter valued at about $501,000. State Street Corp boosted its stake in shares of Hertz Global Holdings by 8.4% in the first quarter. State Street Corp now owns 8,056,011 shares of the company’s stock valued at $84,836,000 after buying an additional 621,887 shares during the last quarter. SL Advisors LLC purchased a new stake in shares of Hertz Global Holdings during the second quarter valued at about $229,000. Legal & General Group Plc boosted its stake in shares of Hertz Global Holdings by 5.3% in the first quarter. Legal & General Group Plc now owns 2,055,611 shares of the company’s stock valued at $21,634,000 after buying an additional 102,909 shares during the last quarter. Finally, Pitcairn Co. boosted its stake in shares of Hertz Global Holdings by 3.8% in the second quarter. Pitcairn Co. now owns 14,363 shares of the company’s stock valued at $159,000 after buying an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.
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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