Hertz Global Holdings, Inc (HTZ) Bond Prices Rise 0.8%

An issue of Hertz Global Holdings, Inc (NYSE:HTZ) debt rose 0.8% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 5.5% coupon and will mature on October 15, 2024. The bonds in the issue are now trading at $88.00 and were trading at $90.63 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

HTZ has been the subject of a number of analyst reports. Zacks Investment Research downgraded Hertz Global Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Deutsche Bank AG restated a “hold” rating and issued a $18.00 price target (up from $14.00) on shares of Hertz Global Holdings in a research note on Friday, October 6th. ValuEngine upgraded Hertz Global Holdings from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub upgraded Hertz Global Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC downgraded Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $17.34 to $9.00 in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Hertz Global Holdings has a consensus rating of “Hold” and an average target price of $17.43.

Hertz Global Holdings, Inc (NYSE:HTZ) opened at $19.56 on Friday. The company has a debt-to-equity ratio of 22.23, a current ratio of 1.58 and a quick ratio of 1.58. Hertz Global Holdings, Inc has a fifty-two week low of $8.52 and a fifty-two week high of $28.96.

Hertz Global Holdings (NYSE:HTZ) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. Hertz Global Holdings had a negative return on equity of 13.86% and a negative net margin of 8.35%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Hertz Global Holdings’s revenue was up 1.2% on a year-over-year basis. research analysts anticipate that Hertz Global Holdings, Inc will post -1.11 EPS for the current fiscal year.

In other Hertz Global Holdings news, SVP Robin Kramer sold 3,524 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $21.53, for a total value of $75,871.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its position in shares of Hertz Global Holdings by 1.2% in the 2nd quarter. Voya Investment Management LLC now owns 23,987 shares of the transportation company’s stock valued at $276,000 after buying an additional 282 shares during the last quarter. Suntrust Banks Inc. grew its position in shares of Hertz Global Holdings by 2.2% in the 2nd quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock valued at $150,000 after buying an additional 285 shares during the last quarter. Hosking Partners LLP grew its position in shares of Hertz Global Holdings by 1.7% in the 2nd quarter. Hosking Partners LLP now owns 54,315 shares of the transportation company’s stock valued at $625,000 after buying an additional 932 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Hertz Global Holdings by 0.9% in the 2nd quarter. SG Americas Securities LLC now owns 125,433 shares of the transportation company’s stock valued at $1,442,000 after buying an additional 1,144 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Hertz Global Holdings by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 72,828 shares of the transportation company’s stock valued at $1,628,000 after buying an additional 2,282 shares during the last quarter.

WARNING: “Hertz Global Holdings, Inc (HTZ) Bond Prices Rise 0.8%” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2017/11/12/hertz-global-holdings-inc-htz-bond-prices-rise-0-8.html.

Hertz Global Holdings Company Profile

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.

Receive News & Ratings for Hertz Global Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hertz Global Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply