Hertz Global Holdings, Inc (HTZ) Shares Gap Down on Analyst Downgrade
Hertz Global Holdings, Inc (NYSE:HTZ)’s share price gapped down prior to trading on Wednesday after Morgan Stanley lowered their price target on the stock from $14.00 to $13.00. The stock had previously closed at $21.08, but opened at $19.30. Morgan Stanley currently has an underweight rating on the stock. Hertz Global Holdings shares last traded at $17.89, with a volume of 6368600 shares.
Other equities analysts have also recently issued research reports about the company. MKM Partners reaffirmed a “buy” rating and issued a $22.00 price target on shares of Hertz Global Holdings in a report on Thursday, August 10th. BidaskClub cut Hertz Global Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Hertz Global Holdings in a report on Thursday, September 7th. Deutsche Bank AG set a $14.00 price target on Hertz Global Holdings and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co assumed coverage on Hertz Global Holdings in a report on Friday, August 4th. They issued a “neutral” rating and a $15.00 price target for the company. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.29.
In other Hertz Global Holdings news, SVP Robin Kramer sold 3,524 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $21.53, for a total transaction of $75,871.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Crow Point Partners LLC purchased a new stake in shares of Hertz Global Holdings in the third quarter valued at approximately $112,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Hertz Global Holdings in the second quarter valued at approximately $147,000. Suntrust Banks Inc. grew its position in shares of Hertz Global Holdings by 2.2% in the second quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 285 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Hertz Global Holdings in the second quarter valued at approximately $199,000. Finally, Pacer Advisors Inc. grew its position in shares of Hertz Global Holdings by 479,950.0% in the third quarter. Pacer Advisors Inc. now owns 9,601 shares of the transportation company’s stock valued at $215,000 after purchasing an additional 9,599 shares in the last quarter.
The company has a debt-to-equity ratio of 18.38, a quick ratio of 1.77 and a current ratio of 1.77.
Hertz Global Holdings (NYSE:HTZ) last issued its quarterly earnings data on Thursday, November 9th. The transportation company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.09. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. Hertz Global Holdings had a negative return on equity of 14.05% and a negative net margin of 8.35%. The firm’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 business posted $1.58 earnings per share. sell-side analysts anticipate that Hertz Global Holdings, Inc will post -1.41 earnings per share for the current fiscal year.
About Hertz Global Holdings
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.
Receive News & Ratings for Hertz Global Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hertz Global Holdings Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.