Hertz Global Holdings, Inc (HTZ) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hertz Global Holdings, Inc (NYSE:HTZ) from a hold rating to a buy rating in a research report released on Tuesday, October 17th. The brokerage currently has $29.00 price objective on the transportation company’s stock.

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. “

Several other research firms have also recently issued reports on HTZ. Deutsche Bank AG reiterated a hold rating and issued a $18.00 price objective (up from $14.00) on shares of Hertz Global Holdings in a report on Friday, October 6th. Morgan Stanley cut shares of Hertz Global Holdings from an equal weight rating to an underweight rating and increased their price objective for the company from $12.00 to $14.00 in a report on Thursday, September 14th. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of Hertz Global Holdings in a research note on Thursday, September 7th. ValuEngine raised shares of Hertz Global Holdings from a strong sell rating to a sell rating in a research note on Friday, September 1st. Finally, BidaskClub raised shares of Hertz Global Holdings from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $17.43.

Shares of Hertz Global Holdings (HTZ) traded up $0.55 during trading hours on Tuesday, hitting $24.79. 1,651,125 shares of the company were exchanged, compared to its average volume of 3,296,956. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 22.23. Hertz Global Holdings has a twelve month low of $8.52 and a twelve month high of $35.75.

Hertz Global Holdings (NYSE:HTZ) last posted its earnings results on Tuesday, August 8th. The transportation company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.51). The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. Hertz Global Holdings had a negative return on equity of 10.27% and a negative net margin of 8.96%. Hertz Global Holdings’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. equities analysts expect that Hertz Global Holdings will post -1.16 earnings per share for the current fiscal year.

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In other news, SVP Robin Kramer sold 3,524 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $21.53, for a total transaction of $75,871.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HTZ. Glenview Capital Management LLC grew its stake in Hertz Global Holdings by 30.9% in the 2nd quarter. Glenview Capital Management LLC now owns 5,714,904 shares of the transportation company’s stock valued at $65,721,000 after buying an additional 1,350,000 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Hertz Global Holdings by 7.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 5,245,864 shares of the transportation company’s stock valued at $117,298,000 after buying an additional 358,161 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Hertz Global Holdings by 120.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,178,066 shares of the transportation company’s stock valued at $59,548,000 after buying an additional 2,826,922 shares during the last quarter. Vanguard Group Inc. grew its stake in Hertz Global Holdings by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,810,744 shares of the transportation company’s stock valued at $55,325,000 after buying an additional 272,574 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Hertz Global Holdings by 71.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,626,966 shares of the transportation company’s stock valued at $30,210,000 after buying an additional 1,097,060 shares during the last quarter.

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.

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