Hertz Global (HTZ) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hertz Global (NYSE:HTZ) from a sell rating to a hold rating in a report issued 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. “

Several other research firms have also issued reports on HTZ. Deutsche Bank restated a hold rating and issued a $18.00 price target (up previously from $14.00) on shares of Hertz Global in a research report on Friday, October 6th. ValuEngine lowered shares of Hertz Global from a sell rating to a strong sell rating in a research report on Sunday, December 31st. Northcoast Research restated a neutral rating on shares of Hertz Global in a research report on Monday, November 13th. Finally, Morgan Stanley decreased their price target on shares of Hertz Global from $14.00 to $13.00 and set an underweight rating on the stock in a research report on Wednesday, November 15th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $17.29.

Hertz Global (HTZ) traded up $1.49 during trading on Wednesday, reaching $23.92. 5,820,000 shares of the company’s stock traded hands, compared to its average volume of 2,750,000. The company has a debt-to-equity ratio of 18.38, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $1,880.00 and a price-to-earnings ratio of -2.75. Hertz Global has a 12-month low of $8.52 and a 12-month high of $27.27.

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

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

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About Hertz Global

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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