Hertz Global Holdings, Inc (NYSE:HTZ) Downgraded by Zacks Investment Research to “Strong Sell”
Hertz Global Holdings, Inc (NYSE:HTZ) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday.
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. “
A number of other research analysts have also weighed in on the company. J P Morgan Chase & Co assumed coverage on Hertz Global Holdings in a research report on Friday. They set a “neutral” rating and a $15.00 price objective for the company. BidaskClub raised Hertz Global Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC lowered Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $17.34 to $9.00 in a research report on Monday, July 31st. ValuEngine lowered Hertz Global Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, MKM Partners reaffirmed a “buy” rating and set a $22.00 price objective on shares of Hertz Global Holdings in a research report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Hertz Global Holdings presently has an average rating of “Hold” and a consensus price target of $21.75.
Shares of Hertz Global Holdings (NYSE HTZ) traded down 6.30% on Tuesday, hitting $14.28. The company had a trading volume of 14,412,943 shares. Hertz Global Holdings has a 52 week low of $8.52 and a 52 week high of $52.27. The stock’s market capitalization is $1.20 billion. The firm’s 50 day moving average price is $13.07 and its 200-day moving average price is $15.83.
Hertz Global Holdings (NYSE:HTZ) last posted its quarterly earnings data on Monday, May 8th. The transportation company reported ($1.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.00) by $0.61. Hertz Global Holdings had a negative net margin of 7.60% and a negative return on equity of 1.86%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business earned ($0.79) EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts forecast that Hertz Global Holdings will post ($0.65) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of HTZ. OZ Management LP acquired a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $15,397,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $355,000. Neuberger Berman Group LLC increased its stake in shares of Hertz Global Holdings by 22.9% in the second quarter. Neuberger Berman Group LLC now owns 1,162,668 shares of the transportation company’s stock valued at $13,371,000 after buying an additional 216,565 shares in the last quarter. Airain ltd acquired a new stake in shares of Hertz Global Holdings during the second quarter valued at approximately $2,335,000. Finally, Royce & Associates LP increased its stake in shares of Hertz Global Holdings by 86.3% in the second quarter. Royce & Associates LP now owns 647,600 shares of the transportation company’s stock valued at $7,447,000 after buying an additional 300,000 shares in the last quarter.
Hertz Global Holdings 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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