Hertz Global Holdings, Inc (HTZ) Given a $31.00 Price Target by Barclays PLC Analysts
Hertz Global Holdings, Inc (NYSE:HTZ) has been assigned a $31.00 price objective by equities researchers at Barclays PLC in a research note issued to investors on Friday. The brokerage presently has a a “hold” rating on the stock. Barclays PLC’s target price suggests a potential upside of 10.71% from the company’s current price.
Several other analysts have also issued reports on the company. Macquarie initiated coverage on Hertz Global Holdings in a report on Thursday, August 25th. They set a “neutral” rating and a $56.00 price target for the company. Goldman Sachs Group Inc. initiated coverage on Hertz Global Holdings in a report on Monday, October 24th. They set a “sell” rating and a $29.00 price target for the company. MKM Partners set a $66.00 price target on Hertz Global Holdings and gave the company a “buy” rating in a report on Wednesday, September 28th. Deutsche Bank AG lowered Hertz Global Holdings from a “buy” rating to a “hold” rating and cut their price target for the company from $59.00 to $24.00 in a report on Tuesday, November 8th. Finally, Morgan Stanley initiated coverage on Hertz Global Holdings in a report on Tuesday, September 6th. They set an “overweight” rating and a $57.00 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 assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.98.
Hertz Global Holdings (NYSE:HTZ) opened at 28.00 on Friday. The stock’s 50 day moving average price is $34.78 and its 200 day moving average price is $43.45. The company has a market capitalization of $2.32 billion and a price-to-earnings ratio of 37.79. Hertz Global Holdings has a 12 month low of $17.20 and a 12 month high of $53.14.
Hertz Global Holdings (NYSE:HTZ) last released its quarterly earnings results on Monday, November 7th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.73 by $1.15. The business earned $2.50 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Hertz Global Holdings will post $0.68 earnings per share for the current fiscal year.
In related news, major shareholder Carl C. Icahn acquired 15,080,442 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were acquired at an average cost of $23.43 per share, for a total transaction of $353,334,756.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Carl C. Icahn acquired 1,244,831 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $28.10 per share, for a total transaction of $34,979,751.10. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Passport Capital LLC bought a new stake in shares of Hertz Global Holdings during the second quarter worth about $121,000. Allianz Asset Management AG bought a new stake in shares of Hertz Global Holdings during the second quarter worth about $375,000. Pitcairn Co. increased 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 worth $159,000 after buying an additional 531 shares during the period. Mountain Lake Investment Management LLC bought a new stake in shares of Hertz Global Holdings during the first quarter worth about $158,000. Finally, World Asset Management Inc increased its stake in shares of 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. Institutional investors and hedge funds own 49.24% of the company’s stock.
About Hertz Global Holdings
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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