Hertz Global (NYSE:HTZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, January 3rd.
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. Deutsche Bank reissued a “hold” rating and issued a $18.00 price objective (up from $14.00) on shares of Hertz Global in a research note on Friday, October 6th. Northcoast Research reaffirmed a “neutral” rating on shares of Hertz Global in a research note on Monday, November 13th. ValuEngine cut shares of Hertz Global from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Morgan Stanley cut their target price on shares of Hertz Global from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 15th. Finally, Goldman Sachs Group reissued a “sell” rating on shares of Hertz Global in a research note on Thursday, September 7th. Six analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Hertz Global presently has a consensus rating of “Hold” and an average price target of $17.29.
Hertz Global (HTZ) traded up $1.21 on Wednesday, reaching $24.30. 3,639,600 shares of the company’s stock traded hands, compared to its average volume of 2,223,213. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 18.38. Hertz Global has a fifty-two week low of $8.52 and a fifty-two week high of $27.27. The company has a market capitalization of $2,030.00 and a P/E ratio of -2.79.
Hertz Global (NYSE:HTZ) last announced its quarterly earnings data on Thursday, November 9th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.09. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Hertz Global had a negative net margin of 8.35% and a negative return on equity of 14.05%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 earnings per share. research analysts expect that Hertz Global will post -1.39 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its holdings in shares of Hertz Global by 40.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 216,971 shares of the transportation company’s stock worth $2,495,000 after acquiring an additional 62,300 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Hertz Global by 89.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 548,782 shares of the transportation company’s stock valued at $6,311,000 after buying an additional 259,037 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Hertz Global by 3,974.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,270,677 shares of the transportation company’s stock valued at $28,414,000 after buying an additional 1,239,488 shares in the last quarter. Legal & General Group Plc lifted its holdings in Hertz Global by 11.7% during the 3rd quarter. Legal & General Group Plc now owns 455,621 shares of the transportation company’s stock valued at $10,570,000 after buying an additional 47,644 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Hertz Global by 179.0% during the 2nd quarter. Alliancebernstein L.P. now owns 82,201 shares of the transportation company’s stock valued at $945,000 after buying an additional 52,734 shares in the last quarter.
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About Hertz Global
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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