Hertz Global Holdings Inc. (HTZ) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Hertz Global Holdings, Inc. operates car rental business. The company’s product and services consists of Hertz Gold Plus Rewards, NeverLost(R), Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections. It operates primarily in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings, Inc. is based in FL, United States. “
Other research analysts have also issued reports about the stock. Credit Suisse Group AG reaffirmed a neutral rating and issued a $48.00 price objective on shares of Hertz Global Holdings in a research note on Tuesday, November 8th. Northcoast Research lowered shares of Hertz Global Holdings from a buy rating to a neutral rating in a research report on Tuesday, November 8th. Deutsche Bank AG dropped their price target on shares of Hertz Global Holdings from $76.00 to $63.00 and set a buy rating on the stock in a research report on Wednesday, August 10th. MKM Partners set a $33.00 price target on shares of Hertz Global Holdings and gave the company a buy rating in a research report on Wednesday, November 9th. Finally, Morgan Stanley lowered shares of Hertz Global Holdings from an overweight rating to an equal weight rating and lowered their price objective for the stock from $57.00 to $30.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $46.53.
Hertz Global Holdings (NYSE:HTZ) opened at 25.2912 on Thursday. The firm has a market cap of $2.10 billion and a price-to-earnings ratio of 34.1312. Hertz Global Holdings has a 52 week low of $17.20 and a 52 week high of $53.14. The company has a 50-day moving average of $33.41 and a 200-day moving average of $42.93.
Hertz Global Holdings (NYSE:HTZ) last released its quarterly earnings data on Monday, November 7th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by $1.15. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business earned $0.49 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts forecast that Hertz Global Holdings will post $1.00 earnings per share for the current fiscal year.
In other news, major shareholder Carl C. Icahn acquired 15,080,442 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were bought at an average cost of $23.43 per share, with a total value of $353,334,756.06. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas C. Kennedy acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $280,500.00. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $875,160. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Calvert Investment Management Inc. purchased a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $367,000. Schwab Charles Investment Management Inc. increased its stake in shares of Hertz Global Holdings by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 837,490 shares of the company’s stock valued at $9,272,000 after buying an additional 83,909 shares during the period. Stifel Financial Corp purchased a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $200,000. SL Advisors LLC purchased a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $229,000. Finally, FDx Advisors Inc. increased its stake in shares of Hertz Global Holdings by 1.1% in the second quarter. FDx Advisors Inc. now owns 45,630 shares of the company’s stock valued at $505,000 after buying an additional 518 shares during the period. 49.24% of the stock is currently owned by institutional investors.
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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