Recent Analysts’ Ratings Updates for Hertz Global Holdings (HTZ)
Hertz Global Holdings (NYSE: HTZ) received a number of price target changes and ratings updates during the last week:
- Hertz Global Holdings was upgraded by analysts at Zacks from an “underperform” rating to a “neutral” rating. They now have a $30.90 price target on the stock.
- Hertz Global Holdings was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $25.00 price target on the stock, down previously from $32.00. They wrote, “We are downgrading our rating on HTZ to Neutral from Overweight following the company’s 8-K filing last night. The filing contained a bundle of bad news that we believe will be the point of capitulation for many of the frustrated bulls who have been extremely patient with HTZ until this point (as it has yet to print 1Q & 2Q results due to its financial statement review that began in May 2014). “In the 8-K HTZ announced 1) it is withdrawing its 2014 guidance (and will be well below the low end of its previous guidance); 2) 2Q14 headline results were lackluster with revenues coming in below our/Street’s estimates; 3) its Rental Car Group President and Lead Independent Director retired; and 4) it potentially delayed the spin of its equipment rental business past 1Q15 (a major catalyst for investors looking for the rental car business recapitalization). “We, and believe many of the bulls, have lower confidence in HTZ’s ability to manage through the accounting/financial statement review while concurrently participating in the rental car operating fundamental upswing that its primary competitor CAR has seen to date.”
- Hertz Global Holdings was downgraded by analysts at Deutsche Bank from a “buy” rating to a “hold” rating. They now have a $25.00 price target on the stock, down previously from $33.00.
- Hertz Global Holdings had its price target lowered by analysts at Gabelli from $44.00 to $36.00. They now have a “buy” rating on the stock.
Hertz Global Holdings, Inc. (NYSE:HTZ) opened at 30.44 on Wednesday. Hertz Global Holdings, Inc. has a one year low of $19.73 and a one year high of $31.61. The stock’s 50-day moving average is $28.89 and its 200-day moving average is $28.00. The company has a market cap of $13.627 billion and a P/E ratio of 39.88. Hertz Global Holdings also was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 10,178,638 shares, an increase of 41.4% from the July 31st total of 7,200,719 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average trading volume of 7,558,097 shares, the short-interest ratio is presently 1.3 days.
Hertz Global Holdings, Inc (NYSE:HTZ) is a holding company.
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