Trading Report: The Hertz Global Holdings Inc. (HTZ) Cut to Sell at The Zacks Investment Research

The Hertz Global Holdings Inc. (HTZ) Cut to Sell at The Zacks Investment Research

Zacks Investment Research cut shares of Hertz Global Holdings Inc. (NYSE:HTZ) from a hold rating to a sell rating in a report released on Wednesday.

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 brokerages have also recently weighed in on HTZ. Credit Suisse Group AG reissued a neutral rating and set a $48.00 price objective on shares of Hertz Global Holdings in a research note on Tuesday, November 8th. Northcoast Research cut shares of Hertz Global Holdings from a buy rating to a neutral rating in a research note on Tuesday, November 8th. Deutsche Bank AG dropped their price objective on shares of Hertz Global Holdings from $76.00 to $63.00 and set a buy rating for the company in a research note on Wednesday, August 10th. MKM Partners set a $33.00 price objective on shares of Hertz Global Holdings and gave the stock a buy rating in a research note on Wednesday, November 9th. Finally, Morgan Stanley cut shares of Hertz Global Holdings from an overweight rating to an equal weight rating and dropped their price objective for the stock from $57.00 to $30.00 in a research note on Tuesday, November 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Hertz Global Holdings has a consensus rating of Hold and a consensus target price of $46.53.

Hertz Global Holdings (NYSE:HTZ) opened at 25.89 on Wednesday. The firm has a market capitalization of $2.15 billion and a PE ratio of 34.94. The company has a 50-day moving average price of $31.30 and a 200-day moving average price of $42.10. Hertz Global Holdings has a 12-month low of $17.20 and a 12-month high of $53.14.

Hertz Global Holdings (NYSE:HTZ) last issued 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, analysts predict that Hertz Global Holdings will post $0.74 earnings per share for the current year.

In related news, major shareholder Carl C. Icahn purchased 1,244,831 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $28.10 per share, for a total transaction of $34,979,751.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Carl C. Icahn purchased 15,080,442 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average price of $23.43 per share, for a total transaction of $353,334,756.06. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Calvert Investment Management Inc. acquired a new position in shares of Hertz Global Holdings during the second quarter worth approximately $367,000. Schwab Charles Investment Management Inc. increased its position in shares of Hertz Global Holdings by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 837,490 shares of the company’s stock worth $9,272,000 after buying an additional 83,909 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Hertz Global Holdings during the second quarter worth approximately $200,000. SL Advisors LLC acquired a new position in shares of Hertz Global Holdings during the second quarter worth approximately $229,000. Finally, FDx Advisors Inc. increased its position in shares of Hertz Global Holdings by 1.1% in the second quarter. FDx Advisors Inc. now owns 45,630 shares of the company’s stock worth $505,000 after buying an additional 518 shares in the last quarter. Institutional investors own 98.52% of the company’s stock.

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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