An issue of Hertz Global Holdings Inc. (NYSE:HTZ) bonds fell 3.2% against their face value during trading on Wednesday. The high-yield issue of debt has a 6.25% coupon and is set to mature on October 15, 2022. The debt is now trading at $94.25 and was trading at $95.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Hertz Global Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley downgraded shares of Hertz Global Holdings from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $57.00 to $30.00 in a research note on Tuesday, November 15th. Barclays PLC set a $31.00 price objective on shares of Hertz Global Holdings and gave the company a “hold” rating in a research note on Friday, November 11th. Macquarie reaffirmed a “hold” rating on shares of Hertz Global Holdings in a research note on Tuesday, November 8th. Finally, MKM Partners set a $33.00 price objective on shares of Hertz Global Holdings and gave the company a “buy” rating in a research note on Wednesday, November 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Hertz Global Holdings presently has an average rating of “Hold” and an average price target of $46.53.

Hertz Global Holdings Inc. (NYSE:HTZ) opened at 26.16 on Friday. The stock has a market cap of $2.17 billion and a PE ratio of 35.30. The firm has a 50-day moving average price of $31.89 and a 200-day moving average price of $42.26. Hertz Global Holdings Inc. has a 12-month low of $17.20 and a 12-month high of $53.14.

Hertz Global Holdings (NYSE:HTZ) last announced its quarterly earnings data on Monday, November 7th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by $1.15. The company earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.60 billion. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Analysts forecast that Hertz Global Holdings Inc. will post $0.74 EPS for the current fiscal year.

In other Hertz Global Holdings news, insider Thomas C. Kennedy acquired 10,000 shares of Hertz Global Holdings stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of $28.05 per share, with a total value of $280,500.00. Following the purchase, the insider now owns 31,200 shares in the company, valued at $875,160. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Carl C. Icahn acquired 15,080,442 shares of Hertz Global Holdings stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $23.43 per share, with a total value of $353,334,756.06. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL acquired a new stake in shares of Hertz Global Holdings during the second quarter valued at about $501,000. SL Advisors LLC acquired a new stake in shares of Hertz Global Holdings during the second quarter valued at about $229,000. Legal & General Group Plc increased 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 in the last quarter. 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 valued at $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 valued at about $285,000. 58.48% of the stock is owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NYSE:HTZ

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