Herc Holdings Inc (HTZ) Sees Strong Trading Volume
Herc Holdings Inc (NYSE:HTZ) saw unusually-strong trading volume on Tuesday . Approximately 1,470,241 shares were traded during mid-day trading, an increase of 85% from the previous session’s volume of 793,224 shares.The stock last traded at $46.35 and had previously closed at $47.31.
Several equities research analysts have weighed in on HTZ shares. MKM Partners upped their target price on Herc Holdings from $16.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 1st. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Herc Holdings in a research report on Wednesday, May 18th. Zacks Investment Research raised Herc Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Deutsche Bank AG boosted their price target on Herc Holdings from $16.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, July 1st. Finally, Vetr raised Herc Holdings from a “hold” rating to a “strong-buy” rating and set a $87.05 price target for the company in a research report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $70.20.
The firm has a market cap of $3.86 billion and a P/E ratio of 95.49. The stock’s 50-day moving average is $48.21 and its 200 day moving average is $48.21.
Herc Holdings (NYSE:HTZ) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The company earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Herc Holdings Inc will post $3.43 earnings per share for the current fiscal year.
In other Herc Holdings news, CFO Thomas C. Kennedy bought 40,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were bought at an average price of $7.76 per share, for a total transaction of $310,400.00. Following the transaction, the chief financial officer now owns 106,000 shares of the company’s stock, valued at approximately $822,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey T. Foland bought 65,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $7.63 per share, for a total transaction of $495,950.00. Following the transaction, the vice president now directly owns 65,000 shares in the company, valued at approximately $495,950. The disclosure for this purchase can be found here.
A number of institutional investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Herc Holdings by 32.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,072,022 shares of the company’s stock valued at $72,168,000 after buying an additional 1,248,726 shares during the last quarter. Jennison Associates LLC boosted its position in Herc Holdings by 26.1% in the fourth quarter. Jennison Associates LLC now owns 6,528,007 shares of the company’s stock valued at $92,894,000 after buying an additional 1,352,224 shares during the last quarter. Marshall Wace LLP boosted its position in Herc Holdings by 990.7% in the fourth quarter. Marshall Wace LLP now owns 583,296 shares of the company’s stock valued at $8,300,000 after buying an additional 529,818 shares during the last quarter. UBS Oconnor LLC acquired a new position in Herc Holdings during the fourth quarter valued at about $3,052,000. Finally, Andra AP fonden boosted its position in Herc Holdings by 56.7% in the fourth quarter. Andra AP fonden now owns 84,800 shares of the company’s stock valued at $1,207,000 after buying an additional 30,700 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.