Hertz Global (HTZ) Shares Up 6.2%

Shares of Hertz Global Holdings, Inc (NYSE:HTZ) shot up 6.2% during trading on Monday . The stock traded as high as $21.65 and last traded at $21.47. 3,159,588 shares traded hands during trading, a decline of 48% from the average session volume of 6,030,426 shares. The stock had previously closed at $20.21.

Several research firms have recently commented on HTZ. 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 note on Wednesday, November 15th. Zacks Investment Research raised shares of Hertz Global from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, October 17th. ValuEngine raised shares of Hertz Global from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub cut shares of Hertz Global from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Goldman Sachs Group reissued a “sell” rating on shares of Hertz Global in a research note on Thursday, September 7th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.29.

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 18.38.

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

In related news, SVP Robin Kramer sold 3,524 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $21.53, for a total value of $75,871.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC acquired a new position in Hertz Global in the third quarter valued at approximately $112,000. BlueCrest Capital Management Ltd acquired a new stake in Hertz Global in the second quarter worth $147,000. Suntrust Banks Inc. raised its holdings in Hertz Global by 2.2% in the second quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock worth $150,000 after purchasing an additional 285 shares during the period. Caxton Associates LP acquired a new stake in Hertz Global in the second quarter worth $199,000. Finally, Pacer Advisors Inc. raised its holdings in Hertz Global by 479,950.0% in the third quarter. Pacer Advisors Inc. now owns 9,601 shares of the transportation company’s stock worth $215,000 after purchasing an additional 9,599 shares during the period.

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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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