Morgan Stanley Reiterates “$15.00” Price Target for Hertz Global (NYSE:HTZ)

Morgan Stanley set a $15.00 price objective on Hertz Global (NYSE:HTZ) in a research note released on Friday, TipRanks reports. The firm currently has a sell rating on the transportation company’s stock.

Several other research firms have also issued reports on HTZ. ValuEngine lowered Hertz Global from a hold rating to a sell rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Hertz Global from a hold rating to a strong-buy rating and set a $21.00 price target on the stock in a research report on Thursday, May 2nd. Barclays upgraded Hertz Global from an equal weight rating to an overweight rating and set a $19.00 price target on the stock in a research report on Thursday. TheStreet upgraded Hertz Global from a d+ rating to a c- rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank set a $21.00 price target on Hertz Global and gave the stock a hold rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $18.50.

HTZ traded down $1.19 on Friday, hitting $13.29. 4,894,461 shares of the company were exchanged, compared to its average volume of 4,305,373. The stock’s fifty day moving average price is $15.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 18.68. Hertz Global has a 12 month low of $13.01 and a 12 month high of $22.37. The company has a market capitalization of $2.08 billion, a PE ratio of -78.18 and a beta of 2.11.

Hertz Global (NYSE:HTZ) last posted its quarterly earnings results on Tuesday, August 6th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.52. Hertz Global had a positive return on equity of 10.92% and a negative net margin of 0.71%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned ($0.19) EPS. Hertz Global’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Hertz Global will post 1.12 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HTZ. Skandinaviska Enskilda Banken AB publ purchased a new stake in Hertz Global in the 2nd quarter worth approximately $29,000. Investors Research Corp purchased a new stake in Hertz Global in the 1st quarter worth approximately $38,000. Exane Derivatives purchased a new stake in Hertz Global in the 1st quarter worth approximately $51,000. C M Bidwell & Associates Ltd. purchased a new stake in Hertz Global in the 2nd quarter worth approximately $72,000. Finally, World Asset Management Inc purchased a new stake in Hertz Global in the 2nd quarter worth approximately $182,000.

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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Analyst Recommendations for Hertz Global (NYSE:HTZ)

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