Hertz Global (NYSE:HTZ) Stock Price Down 6%

Hertz Global Holdings, Inc (NYSE:HTZ) shares fell 6% during mid-day trading on Monday . The stock traded as low as $1.36 and last traded at $1.40, 13,836,345 shares traded hands during trading. A decline of 91% from the average session volume of 158,662,368 shares. The stock had previously closed at $1.49.

Several research firms recently issued reports on HTZ. Northcoast Research lowered Hertz Global from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Deutsche Bank reaffirmed a “hold” rating and issued a $3.00 price target on shares of Hertz Global in a research report on Monday, June 15th. Consumer Edge lowered Hertz Global from an “equal weight” rating to an “underweight” rating and set a $6.00 price target on the stock. in a research report on Friday, March 27th. ValuEngine raised Hertz Global from a “hold” rating to a “buy” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley cut their target price on Hertz Global from $5.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $8.17.

The firm has a 50 day simple moving average of $2.16 and a two-hundred day simple moving average of $9.30. The company has a market capitalization of $206.33 million, a PE ratio of 4.53 and a beta of 1.36. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 13.81.

Hertz Global (NYSE:HTZ) last posted its quarterly earnings results on Monday, May 11th. The transportation company reported ($1.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.19) by ($0.59). Hertz Global had a negative net margin of 2.78% and a negative return on equity of 0.12%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the firm earned ($0.99) earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. Research analysts expect that Hertz Global Holdings, Inc will post -5.03 earnings per share for the current fiscal year.

In other news, CFO Jamere Jackson sold 26,899 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $1.02, for a total value of $27,436.98. Following the completion of the transaction, the chief financial officer now directly owns 162,409 shares of the company’s stock, valued at $165,657.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Carl C. Icahn sold 55,342,109 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $0.72, for a total value of $39,846,318.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,414,173 shares of company stock valued at $39,981,724. 0.37% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in HTZ. First Trust Advisors LP grew its position in shares of Hertz Global by 12.9% in the first quarter. First Trust Advisors LP now owns 155,872 shares of the transportation company’s stock valued at $2,707,000 after purchasing an additional 17,779 shares during the period. Victory Capital Management Inc. grew its position in Hertz Global by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 25,432 shares of the transportation company’s stock valued at $401,000 after acquiring an additional 5,508 shares during the period. Swiss National Bank grew its position in Hertz Global by 2.1% during the fourth quarter. Swiss National Bank now owns 163,190 shares of the transportation company’s stock valued at $2,570,000 after acquiring an additional 3,400 shares during the period. Charles Schwab Investment Management Inc. grew its position in Hertz Global by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,892 shares of the transportation company’s stock valued at $16,143,000 after acquiring an additional 19,379 shares during the period. Finally, FMR LLC grew its position in Hertz Global by 108.5% during the fourth quarter. FMR LLC now owns 618,696 shares of the transportation company’s stock valued at $9,744,000 after acquiring an additional 321,996 shares during the period.

About Hertz Global (NYSE:HTZ)

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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