Shares of Hertz Global Holdings, Inc (NYSE:HTZ) dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $17.37 and last traded at $19.30. Approximately 7,742,600 shares changed hands during trading, an increase of 24% from the average daily volume of 6,243,302 shares. The stock had previously closed at $19.56.
HTZ has been the subject of several analyst reports. Morgan Stanley lowered shares of Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $12.00 to $14.00 in a research report on Thursday, September 14th. ValuEngine upgraded shares of Hertz Global Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Hertz Global Holdings from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) restated a “sell” rating on shares of Hertz Global Holdings in a research report on Thursday, September 7th. Finally, BidaskClub lowered shares of Hertz Global Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.43.
The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 18.38.
Hertz Global Holdings (NYSE:HTZ) last posted its earnings results on Thursday, November 9th. The transportation company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.09. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. Hertz Global Holdings had a negative net margin of 8.35% and a negative return on equity of 14.05%. Hertz Global Holdings’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. analysts predict that Hertz Global Holdings, Inc will post -1.11 EPS for the current year.
In other news, SVP Robin Kramer sold 3,524 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $21.53, for a total transaction of $75,871.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.
Several institutional investors have recently bought and sold shares of HTZ. Dimensional Fund Advisors LP boosted its holdings in shares of Hertz Global Holdings by 120.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,178,066 shares of the transportation company’s stock worth $59,548,000 after purchasing an additional 2,826,922 shares during the period. Gamco Investors INC. ET AL raised its stake in Hertz Global Holdings by 44.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,887,703 shares of the transportation company’s stock worth $56,209,000 after buying an additional 1,501,599 shares in the last quarter. Formula Growth Ltd. raised its stake in Hertz Global Holdings by 550.9% in the second quarter. Formula Growth Ltd. now owns 1,627,293 shares of the transportation company’s stock worth $18,714,000 after buying an additional 1,377,293 shares in the last quarter. Glenview Capital Management LLC raised its stake in Hertz Global Holdings by 30.9% in the second quarter. Glenview Capital Management LLC now owns 5,714,904 shares of the transportation company’s stock worth $65,721,000 after buying an additional 1,350,000 shares in the last quarter. Finally, OZ Management LP bought a new position in Hertz Global Holdings in the second quarter worth about $15,397,000.
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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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