Hertz Global Holdings, Inc (NYSE:HTZ) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $14.00 target price on the transportation company’s stock, up from their previous target price of $12.00. Morgan Stanley’s price target indicates a potential downside of 31.94% from the stock’s previous close.

Several other research analysts also recently issued reports on HTZ. MKM Partners reissued a “buy” rating and set a $22.00 price objective (down from $29.00) on shares of Hertz Global Holdings in a research report on Tuesday, June 6th. Zacks Investment Research raised shares of Hertz Global Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub raised shares of Hertz Global Holdings from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. ValuEngine downgraded shares of Hertz Global Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Barclays PLC downgraded shares of Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $17.34 to $9.00 in a research report on Monday, July 31st. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $16.86.

Hertz Global Holdings (HTZ) traded down 1.91% on Thursday, reaching $20.57. 11,110,987 shares of the company were exchanged. The stock’s market capitalization is $1.72 billion. The stock has a 50-day moving average price of $22.53 and a 200 day moving average price of $22.61. Hertz Global Holdings has a 52 week low of $17.20 and a 52 week high of $49.86.

Hertz Global Holdings (NYSE:HTZ) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.51). Hertz Global Holdings had a negative return on equity of 10.27% and a negative net margin of 8.96%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Hertz Global Holdings will post ($1.52) earnings per share for the current year.

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In other news, SVP Robin Kramer sold 3,524 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $21.53, for a total value of $75,871.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in HTZ. Bank of Montreal Can lifted its stake in shares of Hertz Global Holdings by 46.2% in the 1st quarter. Bank of Montreal Can now owns 18,033 shares of the transportation company’s stock worth $316,000 after acquiring an additional 5,698 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Hertz Global Holdings in the 1st quarter worth $174,000. Russell Investments Group Ltd. lifted its stake in shares of Hertz Global Holdings by 40.4% in the 1st quarter. Russell Investments Group Ltd. now owns 17,400 shares of the transportation company’s stock worth $305,000 after acquiring an additional 5,007 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Hertz Global Holdings by 42.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,529,906 shares of the transportation company’s stock worth $26,834,000 after acquiring an additional 459,251 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Hertz Global Holdings by 52.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 44,876 shares of the transportation company’s stock worth $786,000 after acquiring an additional 15,382 shares during the period.

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.

Analyst Recommendations for Hertz Global Holdings (NYSE:HTZ)

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