Morgan Stanley Lowers Hertz Global Holdings, Inc (HTZ) Price Target to $13.00

Hertz Global Holdings, Inc (NYSE:HTZ) had its price objective lowered by Morgan Stanley from $14.00 to $13.00 in a research report issued on Wednesday. The brokerage presently has an “underweight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential downside of 27.33% from the company’s previous close.

Several other brokerages have also issued reports on HTZ. BidaskClub raised Hertz Global Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. MKM Partners reissued a “buy” rating and issued a $22.00 target price on shares of Hertz Global Holdings in a research note on Thursday, August 10th. Zacks Investment Research raised Hertz Global Holdings from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, October 17th. Deutsche Bank AG set a $14.00 target price on Hertz Global Holdings and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co started coverage on Hertz Global Holdings in a research note on Friday, August 4th. They issued a “neutral” rating and a $15.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Hertz Global Holdings has a consensus rating of “Hold” and a consensus target price of $17.29.

Hertz Global Holdings (NYSE HTZ) traded down $1.41 on Wednesday, hitting $17.89. 6,368,600 shares of the stock were exchanged, compared to its average volume of 6,243,878. Hertz Global Holdings has a one year low of $8.52 and a one year high of $27.70. The company has a debt-to-equity ratio of 18.38, a quick ratio of 1.77 and a current ratio of 1.77.

Hertz Global Holdings (NYSE:HTZ) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Hertz Global Holdings had a negative net margin of 8.35% and a negative return on equity of 14.05%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. analysts expect that Hertz Global Holdings will post -1.11 earnings per share for the current year.

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In related news, SVP Robin Kramer sold 3,524 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $21.53, for a total transaction of $75,871.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HTZ. Teachers Advisors LLC raised its position in shares of Hertz Global Holdings by 14.6% in the 1st quarter. Teachers Advisors LLC now owns 87,229 shares of the transportation company’s stock worth $1,530,000 after acquiring an additional 11,120 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Hertz Global Holdings by 25.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 273,104 shares of the transportation company’s stock valued at $4,790,000 after buying an additional 56,011 shares in the last quarter. Geode Capital Management LLC increased its position in Hertz Global Holdings by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 537,546 shares of the transportation company’s stock valued at $9,428,000 after buying an additional 15,351 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Hertz Global Holdings by 106.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,144 shares of the transportation company’s stock valued at $41,239,000 after buying an additional 1,215,045 shares in the last quarter. Finally, KCG Holdings Inc. grew its stake in Hertz Global Holdings by 63.3% during the 1st quarter. KCG Holdings Inc. now owns 15,560 shares of the transportation company’s stock valued at $273,000 after purchasing an additional 6,031 shares during the last quarter.

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.

Analyst Recommendations for Hertz Global Holdings (NYSE:HTZ)

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