Macquarie Upgrades Hertz Global (HTZ) to Outperform

Hertz Global (NYSE:HTZ) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report issued on Thursday, Marketbeat.com reports.

A number of other analysts have also recently issued reports on HTZ. Deutsche Bank reissued a “hold” rating and issued a $18.00 price objective (up from $14.00) on shares of Hertz Global in a research note on Friday, October 6th. Zacks Investment Research raised shares of Hertz Global from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Northcoast Research reaffirmed a “neutral” rating on shares of Hertz Global in a research note on Monday, November 13th. Morgan Stanley cut their target price on shares of Hertz Global from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 15th. Finally, ValuEngine cut shares of Hertz Global from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.29.

Shares of Hertz Global (NYSE HTZ) traded up $1.49 during midday trading on Thursday, hitting $23.92. 5,820,000 shares of the stock were exchanged, compared to its average volume of 2,890,000. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 18.38. The stock has a market capitalization of $2,000.00 and a PE ratio of -2.75. Hertz Global has a 1 year low of $8.52 and a 1 year high of $27.27.

Hertz Global (NYSE:HTZ) last announced its quarterly earnings data on Thursday, November 9th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.09. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Hertz Global had a negative net margin of 8.35% and a negative return on equity of 14.05%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 earnings per share. sell-side analysts expect that Hertz Global will post -1.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp purchased a new position in Hertz Global during the third quarter valued at $469,000. Parametric Portfolio Associates LLC lifted its position in Hertz Global by 89.4% during the second quarter. Parametric Portfolio Associates LLC now owns 548,782 shares of the transportation company’s stock valued at $6,311,000 after purchasing an additional 259,037 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Hertz Global by 3,974.1% during the third quarter. Ameriprise Financial Inc. now owns 1,270,677 shares of the transportation company’s stock valued at $28,414,000 after purchasing an additional 1,239,488 shares during the last quarter. Legal & General Group Plc lifted its position in Hertz Global by 11.7% during the third quarter. Legal & General Group Plc now owns 455,621 shares of the transportation company’s stock valued at $10,570,000 after purchasing an additional 47,644 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Hertz Global by 179.0% during the second quarter. Alliancebernstein L.P. now owns 82,201 shares of the transportation company’s stock valued at $945,000 after purchasing an additional 52,734 shares during the last quarter.

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Hertz Global 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 (NYSE:HTZ)

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