Today, Hertz Global Holdings Inc. (HTZ) Rating Decreased to Hold at Deutsche Bank AG

Today, Hertz Global Holdings Inc. (HTZ) Rating Decreased to Hold at Deutsche Bank AG
Hertz Global Holdings Inc. (NYSE:HTZ) was downgraded by research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report released on Tuesday. They presently have a $24.00 price target on the stock, down from their prior price target of $59.00. Deutsche Bank AG’s price objective indicates a potential downside of 7.30% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Northcoast Research reiterated a “buy” rating on shares of Hertz Global Holdings in a research note on Tuesday, July 12th. MKM Partners set a $66.00 price target on Hertz Global Holdings and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Macquarie initiated coverage on Hertz Global Holdings in a research note on Thursday, August 25th. They issued a “neutral” rating and a $56.00 price target for the company. Zacks Investment Research upgraded Hertz Global Holdings from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Finally, Morgan Stanley initiated coverage on Hertz Global Holdings in a research note on Tuesday, September 6th. They issued an “overweight” rating and a $57.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Hertz Global Holdings currently has an average rating of “Hold” and a consensus target price of $46.53.

Shares of Hertz Global Holdings (NYSE:HTZ) traded down 1.03% during trading on Tuesday, hitting $25.89. The stock had a trading volume of 878,302 shares. The firm’s 50-day moving average is $31.30 and its 200-day moving average is $42.10. The firm has a market cap of $2.15 billion and a P/E ratio of 34.94. Hertz Global Holdings has a one year low of $17.20 and a one year high of $53.14.

Hertz Global Holdings (NYSE:HTZ) last announced its earnings results on Monday, November 7th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.73 by $1.15. The firm earned $2.50 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. Equities research analysts forecast that Hertz Global Holdings will post $0.74 EPS for the current year.

In other Hertz Global Holdings news, major shareholder Carl C. Icahn acquired 1,244,831 shares of Hertz Global Holdings stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $28.10 per share, for a total transaction of $34,979,751.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas C. Kennedy acquired 10,000 shares of Hertz Global Holdings stock in a transaction dated Monday, November 14th. The shares were acquired at an average price of $28.05 per share, with a total value of $280,500.00. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $875,160. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlueMountain Capital Management LLC increased its position in shares of Hertz Global Holdings by 62.9% in the first quarter. BlueMountain Capital Management LLC now owns 605,416 shares of the company’s stock valued at $6,375,000 after buying an additional 233,859 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Hertz Global Holdings by 109.8% in the first quarter. First Republic Investment Management Inc. now owns 155,028 shares of the company’s stock valued at $1,633,000 after buying an additional 81,138 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of Hertz Global Holdings during the first quarter valued at approximately $2,721,000. Seven Eight Capital LLC purchased a new stake in shares of Hertz Global Holdings during the first quarter valued at approximately $311,000. Finally, Mountain Lake Investment Management LLC purchased a new stake in shares of Hertz Global Holdings during the first quarter valued at approximately $158,000. Institutional investors and hedge funds own 58.48% of the company’s stock.

Hertz Global Holdings Company Profile

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