An issue of Hertz Global Holdings, Inc (NYSE:HTZ) debt fell 2.6% as a percentage of its face value during trading on Monday. The debt issue has a 6.25% coupon and will mature on October 15, 2022. The debt is now trading at $90.63 and was trading at $91.00 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
HTZ has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Hertz Global Holdings from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, May 12th. MKM Partners restated a “buy” rating and issued a $22.00 target price (down previously from $29.00) on shares of Hertz Global Holdings in a research note on Tuesday, June 6th. Barclays PLC cut Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $17.34 to $9.00 in a research note on Monday, July 31st. Zacks Investment Research cut Hertz Global Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, BidaskClub upgraded Hertz Global Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Hertz Global Holdings has a consensus rating of “Hold” and a consensus target price of $21.50.
Hertz Global Holdings, Inc (NYSE HTZ) opened at 18.24 on Wednesday. The stock has a 50 day moving average price of $15.50 and a 200-day moving average price of $15.50. Hertz Global Holdings, Inc has a 1-year low of $8.52 and a 1-year high of $52.27. The stock’s market cap is $1.53 billion.
Hertz Global Holdings (NYSE:HTZ) last released its quarterly earnings data on Tuesday, August 8th. The transportation company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.51. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hertz Global Holdings had a negative return on equity of 10.27% and a negative net margin of 8.96%. Hertz Global Holdings’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts expect that Hertz Global Holdings, Inc will post ($1.63) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd purchased a new stake in Hertz Global Holdings during the second quarter valued at about $147,000. Suntrust Banks Inc. boosted its stake in shares of Hertz Global Holdings 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 buying an additional 285 shares during the period. Segantii Capital Management Ltd bought a new stake in shares of Hertz Global Holdings during the first quarter worth $167,000. Nisa Investment Advisors LLC bought a new stake in shares of Hertz Global Holdings during the first quarter worth $174,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Hertz Global Holdings by 146.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,940 shares of the transportation company’s stock worth $174,000 after buying an additional 5,900 shares during the period.
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.
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