Morgan Stanley Cuts Hertz Global Holdings, Inc (HTZ) Price Target to $12.00

Hertz Global Holdings, Inc (NYSE:HTZ) had its price objective reduced by Morgan Stanley from $15.00 to $12.00 in a research report sent to investors on Friday. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on HTZ. Deutsche Bank AG reissued a hold rating and set a $24.00 price target on shares of Hertz Global Holdings in a research report on Wednesday, March 1st. Barclays PLC reissued an equal weight rating and set a $23.00 price target (down previously from $31.00) on shares of Hertz Global Holdings in a research report on Friday, February 24th. Zacks Investment Research cut shares of Hertz Global Holdings from a hold rating to a sell rating in a research report on Thursday, February 23rd. Credit Suisse Group AG cut shares of Hertz Global Holdings from a neutral rating to an underperform rating and dropped their price target for the company from $27.00 to $15.00 in a research report on Friday, February 17th. Finally, MKM Partners reissued a buy rating and set a $29.00 price target (down previously from $33.00) on shares of Hertz Global Holdings in a research report on Sunday, March 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $31.63.

Hertz Global Holdings (NYSE:HTZ) opened at 9.90 on Friday. Hertz Global Holdings has a 52 week low of $9.88 and a 52 week high of $53.14. The company’s market cap is $828.74 million. The company’s 50-day moving average is $15.11 and its 200-day moving average is $21.03.

Hertz Global Holdings (NYSE:HTZ) last announced its quarterly earnings results on Monday, May 8th. The transportation company reported ($1.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.00) by $0.61. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.79) earnings per share. On average, analysts anticipate that Hertz Global Holdings will post ($0.46) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. raised its position in shares of Hertz Global Holdings by 75.1% in the fourth quarter. Pacad Investment Ltd. now owns 39,431 shares of the transportation company’s stock valued at $850,000 after buying an additional 16,906 shares during the period. Credit Agricole S A acquired a new position in shares of Hertz Global Holdings during the fourth quarter valued at about $341,000. Gideon Capital Advisors Inc. acquired a new position in shares of Hertz Global Holdings during the fourth quarter valued at about $384,000. Knott David M acquired a new position in shares of Hertz Global Holdings during the fourth quarter valued at about $539,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Hertz Global Holdings by 52.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,258,147 shares of the transportation company’s stock valued at $48,686,000 after buying an additional 772,757 shares during the last quarter. Institutional investors and hedge funds own 91.26% of the company’s stock.

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.

5 Day Chart for NYSE:HTZ

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