Hertz Global Holdings, Inc (NYSE: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 “strong sell” rating in a research report issued on Tuesday.
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. “
HTZ has been the subject of a number of other reports. Barclays PLC set a $9.00 price objective on Hertz Global Holdings and gave the company a “hold” rating in a report on Sunday, May 14th. MKM Partners reissued a “buy” rating and set a $22.00 price objective (down from $29.00) on shares of Hertz Global Holdings in a report on Tuesday, June 6th. ValuEngine cut Hertz Global Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Morgan Stanley lowered their target price on Hertz Global Holdings from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 12th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $16.00 target price on shares of Hertz Global Holdings in a research note on Tuesday, May 9th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.75.
Hertz Global Holdings (NYSE HTZ) traded down 6.30% during trading on Tuesday, hitting $14.28. 14,412,943 shares of the stock traded hands. The company has a 50-day moving average price of $13.07 and a 200 day moving average price of $15.83. Hertz Global Holdings has a one year low of $8.52 and a one year high of $52.27. The stock’s market cap is $1.20 billion.
Hertz Global Holdings (NYSE:HTZ) last issued its quarterly earnings data on Monday, May 8th. The transportation company reported ($1.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.00) by $0.61. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. Hertz Global Holdings had a negative net margin of 7.60% and a negative return on equity of 1.86%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) earnings per share. Analysts expect that Hertz Global Holdings will post ($0.65) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Segantii Capital Management Ltd purchased a new stake in shares of Hertz Global Holdings during the first quarter worth approximately $167,000. Nisa Investment Advisors LLC purchased a new stake in shares of Hertz Global Holdings during the first quarter worth approximately $174,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Hertz Global Holdings by 146.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,940 shares of the transportation company’s stock worth $174,000 after buying an additional 5,900 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Hertz Global Holdings during the first quarter worth approximately $211,000. Finally, Suntrust Banks Inc. raised its stake in shares of Hertz Global Holdings by 3.5% in the first quarter. Suntrust Banks Inc. now owns 12,822 shares of the transportation company’s stock worth $224,000 after buying an additional 434 shares during the last quarter.
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.
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