Herc Holdings Inc (HTZ) Sees Strong Trading Volume
Herc Holdings Inc (NYSE:HTZ) saw unusually-high 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.
HTZ has been the topic of a number of research analyst reports. MKM Partners cut their target price on Herc Holdings from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 11th. Deutsche Bank AG reissued a “buy” rating and issued a $90.00 target price on shares of Herc Holdings in a research report on Monday, April 11th. Credit Suisse Group AG downgraded shares of Herc Holdings from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $60.00 in a research note on Tuesday, April 12th. Zacks Investment Research downgraded shares of Herc Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Herc Holdings in a research note on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Herc Holdings presently has an average rating of “Buy” and an average price target of $71.64.
The company has a 50-day moving average price of $48.34 and a 200 day moving average price of $48.34. The stock has a market capitalization of $1.27 billion and a PE ratio of 4.60.
Herc Holdings (NYSE:HTZ) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.12. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts expect that Herc Holdings Inc will post $3.30 EPS for the current year.
In related news, CEO John P. Tague acquired 66,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $7.84 per share, with a total value of $517,440.00. Following the completion of the transaction, the chief executive officer now owns 181,200 shares of the company’s stock, valued at approximately $1,420,608. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tyler Best acquired 45,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were bought at an average cost of $10.02 per share, for a total transaction of $450,900.00. Following the completion of the transaction, the vice president now directly owns 72,450 shares of the company’s stock, valued at approximately $725,949. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in HTZ. Andra AP fonden increased its position in shares of Herc Holdings by 56.7% in the fourth quarter. Andra AP fonden now owns 84,800 shares of the company’s stock worth $1,207,000 after buying an additional 30,700 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Herc Holdings by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 126,916 shares of the company’s stock worth $1,806,000 after buying an additional 1,000 shares during the last quarter. Russell Frank Co increased its position in shares of Herc Holdings by 457.6% in the fourth quarter. Russell Frank Co now owns 168,678 shares of the company’s stock worth $2,370,000 after buying an additional 138,425 shares during the last quarter. UBS Oconnor LLC bought a new position in shares of Herc Holdings during the fourth quarter worth approximately $3,052,000. Finally, Marshall Wace LLP increased its position in shares of Herc Holdings by 990.7% in the fourth quarter. Marshall Wace LLP now owns 583,296 shares of the company’s stock worth $8,300,000 after buying an additional 529,818 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.