Zacks Investment Research cut shares of Hertz Global (NYSE:HTZ) from a hold rating to a sell rating in a report released on Wednesday.
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. “
Several other analysts have also commented on the company. Morgan Stanley lowered Hertz Global from an equal weight rating to an underweight rating and raised their price objective for the company from $12.00 to $14.00 in a report on Thursday, September 14th. Goldman Sachs Group reaffirmed a sell rating on shares of Hertz Global in a research note on Thursday, September 7th. Deutsche Bank reaffirmed a hold rating and issued a $18.00 price target (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. Finally, ValuEngine lowered Hertz Global from a sell rating to a strong sell rating in a research note on Sunday, December 31st. Six analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Hertz Global currently has an average rating of Hold and an average price target of $17.29.
Shares of Hertz Global (NYSE HTZ) traded up $0.39 on Wednesday, reaching $23.48. The company’s stock had a trading volume of 1,566,500 shares, compared to its average volume of 2,023,400. The company has a debt-to-equity ratio of 18.38, a quick ratio of 1.77 and a current ratio of 1.77. Hertz Global has a one year low of $8.52 and a one year high of $27.27. The firm has a market capitalization of $1,970.00 and a price-to-earnings ratio of -2.70.
Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Thursday, November 9th. The transportation company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.33 by $0.09. Hertz Global had a negative return on equity of 14.05% and a negative net margin of 8.35%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company earned $1.58 earnings per share. Hertz Global’s quarterly revenue was up 1.2% compared to the same quarter last year. analysts anticipate that Hertz Global will post -1.39 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Voya Investment Management LLC boosted its stake in shares of Hertz Global by 1.2% in the second quarter. Voya Investment Management LLC now owns 23,987 shares of the transportation company’s stock worth $276,000 after acquiring an additional 282 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Hertz Global by 2.2% during the second quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock worth $150,000 after buying an additional 285 shares during the last quarter. Rhumbline Advisers boosted its stake in Hertz Global by 3.2% during the third quarter. Rhumbline Advisers now owns 72,828 shares of the transportation company’s stock worth $1,628,000 after buying an additional 2,282 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Hertz Global by 2.5% during the third quarter. Canada Pension Plan Investment Board now owns 105,800 shares of the transportation company’s stock worth $2,366,000 after buying an additional 2,592 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Hertz Global by 8.1% during the third quarter. American International Group Inc. now owns 36,695 shares of the transportation company’s stock worth $821,000 after buying an additional 2,743 shares during the last quarter.
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Hertz Global 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.
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