Hertz Global Holdings, Inc (HTZ) Stock Rating Lowered by Zacks Investment Research
Hertz Global Holdings, Inc (NYSE:HTZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Several other research analysts have also recently issued reports on HTZ. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $48.00 price target on shares of Hertz Global Holdings in a report on Tuesday, November 8th. Northcoast Research cut Hertz Global Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. Deutsche Bank AG dropped their price target on Hertz Global Holdings from $76.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. MKM Partners set a $33.00 price target on Hertz Global Holdings and gave the company a “buy” rating in a report on Wednesday, November 9th. Finally, Morgan Stanley cut Hertz Global Holdings from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $57.00 to $30.00 in a report on Tuesday, November 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.53.
Shares of Hertz Global Holdings (NYSE:HTZ) traded down 0.23% on Wednesday, reaching $26.16. The company had a trading volume of 1,026,008 shares. The stock has a market capitalization of $2.17 billion and a PE ratio of 35.30. The company has a 50 day moving average price of $31.89 and a 200 day moving average price of $42.26. Hertz Global Holdings has a 52-week low of $17.20 and a 52-week high of $53.14.
Hertz Global Holdings (NYSE:HTZ) last released its earnings results 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 earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Hertz Global Holdings’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. On average, equities research analysts anticipate that Hertz Global Holdings will post $0.74 earnings per share for the current year.
In other Hertz Global Holdings news, insider Thomas C. Kennedy acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of $28.05 per share, for a total transaction of $280,500.00. Following the completion of the acquisition, the insider now owns 31,200 shares of the company’s stock, valued at approximately $875,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tyler Best acquired 14,320 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was acquired at an average price of $27.93 per share, with a total value of $399,957.60. Following the completion of the acquisition, the vice president now directly owns 28,810 shares of the company’s stock, valued at approximately $804,663.30. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new stake in shares of Hertz Global Holdings during the second quarter worth about $501,000. SL Advisors LLC acquired a new stake in shares of Hertz Global Holdings during the second quarter worth 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 worth $21,634,000 after buying an additional 102,909 shares in the last quarter. 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 worth $159,000 after buying an additional 531 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Hertz Global Holdings during the second quarter worth about $285,000. Hedge funds and other institutional investors own 58.48% of the company’s stock.
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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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