Shares of Hertz Global Holdings, Inc (NYSE:HTZ) dropped 3.7% on Wednesday . The stock traded as low as $15.41 and last traded at $14.88. Approximately 4,268,603 shares changed hands during trading, an increase of 18% from the average daily volume of 3,604,642 shares. The stock had previously closed at $15.45.
HTZ has been the subject of several research analyst reports. Zacks Investment Research raised shares of Hertz Global from a “sell” rating to a “hold” rating and set a $20.00 price target for the company in a research note on Wednesday, May 9th. ValuEngine downgraded shares of Hertz Global from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Finally, Morgan Stanley lifted their price target on shares of Hertz Global from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Tuesday, June 26th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.00.
Get Hertz Global alerts:The firm has a market cap of $1.30 billion, a PE ratio of -8.96 and a beta of 0.02. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 14.77.
Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Monday, May 7th. The transportation company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.26) by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Hertz Global had a net margin of 3.90% and a negative return on equity of 12.06%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.61) earnings per share. analysts anticipate that Hertz Global Holdings, Inc will post -1.11 EPS for the current fiscal year.
In other Hertz Global news, CFO Thomas C. Kennedy acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The shares were bought at an average cost of $17.22 per share, with a total value of $258,300.00. Following the completion of the acquisition, the chief financial officer now directly owns 55,376 shares in the company, valued at approximately $953,574.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Hertz Global by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,728,202 shares of the transportation company’s stock valued at $113,705,000 after buying an additional 884,967 shares during the period. Gamco Investors INC. ET AL increased its holdings in Hertz Global by 4.1% during the first quarter. Gamco Investors INC. ET AL now owns 5,011,290 shares of the transportation company’s stock valued at $99,474,000 after buying an additional 197,206 shares during the period. BlackRock Inc. increased its holdings in Hertz Global by 0.7% during the first quarter. BlackRock Inc. now owns 4,385,780 shares of the transportation company’s stock valued at $87,057,000 after buying an additional 28,444 shares during the period. Renaissance Technologies LLC increased its holdings in Hertz Global by 653.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,729,800 shares of the transportation company’s stock valued at $38,229,000 after buying an additional 1,500,100 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in Hertz Global by 16.2% during the first quarter. Neuberger Berman Group LLC now owns 1,207,707 shares of the transportation company’s stock valued at $23,970,000 after buying an additional 168,603 shares during the period.
Hertz Global Company Profile
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.
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