Zacks Investment Research upgraded shares of Hertz Global (NYSE:HTZ) from a sell rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Hertz Global performed encouragingly in the second quarter of 2018. The company reported narrower-than-expected loss in the quarter. Moreover, loss was narrower than that incurred a year-ago. Results were aided by higher revenues, which increased 7.4% year over year. Moreover, the top line surpassed the Zacks Consensus Estimate. Impressive performances of the U.S. and International Rental Car segments drove the top line. However, increase in operating expenses is a concern. With the company investing heavily in its turnaround plan, the bottom line is under pressure.  Moreover, competition from private players like Uber in addition to other car-sharing and ride-hailing services is hurting the company. Its high debt levels are also concerning. Due to these headwinds, shares of Hertz Global have shed more than 11% of their value so far this year.”

Several other research analysts have also commented on the company. ValuEngine raised Hertz Global from a hold rating to a buy rating in a research report on Sunday, August 5th. Morgan Stanley boosted their price target on Hertz Global from $13.00 to $15.00 and gave the stock an underweight rating in a research report on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Hertz Global has an average rating of Hold and a consensus price target of $16.50.

Shares of Hertz Global opened at $19.50 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 16.24, a current ratio of 1.16 and a quick ratio of 1.57. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -12.26 and a beta of 0.06. Hertz Global has a twelve month low of $13.40 and a twelve month high of $27.27.

Hertz Global (NYSE:HTZ) last issued its earnings results on Monday, August 6th. The transportation company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.06. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.31 billion. Hertz Global had a negative return on equity of 8.10% and a net margin of 4.87%. Hertz Global’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.63) EPS. research analysts expect that Hertz Global will post -1.19 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HTZ. Financial Architects Inc raised its position in shares of Hertz Global by 63.9% in the 2nd quarter. Financial Architects Inc now owns 8,977 shares of the transportation company’s stock worth $138,000 after acquiring an additional 3,500 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Hertz Global during the 2nd quarter worth $153,000. Sei Investments Co. grew its stake in Hertz Global by 59.3% during the 1st quarter. Sei Investments Co. now owns 8,980 shares of the transportation company’s stock worth $178,000 after buying an additional 3,343 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Hertz Global during the 2nd quarter worth $199,000. Finally, Naples Global Advisors LLC purchased a new position in Hertz Global during the 2nd quarter worth $230,000.

About Hertz Global

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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