An issue of Hertz Global Holdings, Inc (NYSE:HTZ) bonds rose 1.1% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 5.5% coupon and is set to mature on October 15, 2024. The bonds in the issue are now trading at $79.38. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
Several research firms have recently commented on HTZ. Zacks Investment Research upgraded shares of Hertz Global from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, October 4th. ValuEngine upgraded shares of Hertz Global from a “hold” rating to a “buy” rating in a report on Saturday. TheStreet upgraded shares of Hertz Global from a “d” rating to a “c-” rating in a report on Friday, August 24th. Goldman Sachs Group set a $13.00 price target on shares of Hertz Global and gave the company a “sell” rating in a report on Tuesday, October 16th. Finally, Barclays boosted their price target on shares of Hertz Global from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.
Shares of Hertz Global stock traded up $3.12 on Friday, hitting $19.41. 19,605,417 shares of the company traded hands, compared to its average volume of 2,779,616. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 16.24. Hertz Global Holdings, Inc has a 12-month low of $13.01 and a 12-month high of $25.14. The stock has a market cap of $1.39 billion, a P/E ratio of -12.21 and a beta of 0.89.
Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Thursday, November 8th. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.36. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Hertz Global had a net margin of 4.87% and a negative return on equity of 8.10%. Hertz Global’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. On average, equities research analysts expect that Hertz Global Holdings, Inc will post -0.9 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Financial Architects Inc boosted its holdings in Hertz Global by 63.9% in the second quarter. Financial Architects Inc now owns 8,977 shares of the transportation company’s stock worth $138,000 after purchasing an additional 3,500 shares in the last quarter. NJ State Employees Deferred Compensation Plan boosted its holdings in Hertz Global by 28.6% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 18,000 shares of the transportation company’s stock worth $276,000 after purchasing an additional 4,000 shares in the last quarter. KBC Group NV boosted its holdings in Hertz Global by 31.3% in the second quarter. KBC Group NV now owns 22,741 shares of the transportation company’s stock worth $349,000 after purchasing an additional 5,417 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Hertz Global by 7.7% in the second quarter. First Republic Investment Management Inc. now owns 76,100 shares of the transportation company’s stock worth $1,167,000 after purchasing an additional 5,440 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Hertz Global by 40.5% in the third quarter. JPMorgan Chase & Co. now owns 19,319 shares of the transportation company’s stock worth $315,000 after purchasing an additional 5,573 shares in the last quarter.
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Hertz Global Company Profile (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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