Hertz Global Holdings Shares Down 9.3% on Analyst Downgrade (HTZ)
Hertz Global Holdings (NYSE:HTZ) shares traded down 9.3% on Wednesday after Gabelli lowered their price target on the stock from $44.00 to $36.00, Analyst Ratings.Net reports. Gabelli currently has a buy rating on the stock. Hertz Global Holdings traded as low as $27.47 and last traded at $28.64, with a volume of 51,125,522 shares changing hands. The stock had previously closed at $31.56.
A number of other analysts have also recently weighed in on HTZ. Analysts at Deutsche Bank downgraded shares of Hertz Global Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $25.00 price target on the stock, down previously from $33.00. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Hertz Global Holdings from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $25.00 price target on the stock, down previously from $32.00. Finally, analysts at Zacks upgraded shares of Hertz Global Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $30.90 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Hertz Global Holdings presently has a consensus rating of “Hold” and a consensus price target of $28.49.
The stock’s 50-day moving average is $28.66 and its 200-day moving average is $27.82. The company has a market cap of $13.578 billion and a price-to-earnings ratio of 41.53. Hertz Global Holdings also saw some unusual options trading activity on Tuesday. Traders purchased 22,438 put options on the company. This represents an increase of 695% compared to the typical volume of 2,822 put options.
Hertz Global Holdings, Inc (NYSE:HTZ) is a holding company.
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