Hertz Global Holdings’s “Underweight” Rating Reiterated at Morgan Stanley (HTZ)
Hertz Global Holdings (NYSE:HTZ)‘s stock had its “underweight” rating reaffirmed by Morgan Stanley in a research note issued on Thursday. They currently have a $20.00 price target on the stock, up from their previous price target of $19.00. Morgan Stanley’s target price indicates a potential downside of 34.94% from the stock’s previous close.
The analysts wrote, “We are marking to market our earnings forecast to account for HTZ’s updated ’14 guidance–now expected to be well below its previous guide. Accounting issues aside, we see far greater issues pressuring cons forecasts. Our ’15 and ’16 ests. remain 10% below cons and we trim our price target to $19.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Gabelli cut their price target on shares of Hertz Global Holdings from $44.00 to $36.00 in a research note on Wednesday, August 20th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Hertz Global Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 20th. They now have a $25.00 price target on the stock, down previously from $33.00. Finally, 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, August 20th. They now have a $25.00 price target on the stock, down previously from $32.00. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Hertz Global Holdings presently has a consensus rating of “Hold” and a consensus target price of $28.49.
Hertz Global Holdings (NYSE:HTZ) opened at 30.74 on Thursday. Hertz Global Holdings has a 1-year low of $19.73 and a 1-year high of $31.61. The stock has a 50-day moving average of $28.95 and a 200-day moving average of $28.02. The company has a market cap of $13.762 billion and a price-to-earnings ratio of 40.05. Hertz Global Holdings also was the target of a significant increase in short interest in 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. Based on an average daily volume of 7,558,097 shares, the short-interest ratio is presently 1.3 days. Currently, 2.3% of the shares of the stock are sold short.
Hertz Global Holdings, Inc (NYSE:HTZ) is a holding company.
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