Hertz Global Holdings, Inc (NYSE:HTZ) Bonds Rise 1.3% During Trading

An issue of Hertz Global Holdings, Inc (NYSE:HTZ) bonds rose 1.3% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 5.5% coupon and will mature on October 15, 2024. The debt is now trading at $82.75 and was trading at $85.50 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

HTZ has been the subject of a number of analyst reports. BidaskClub upgraded shares of Hertz Global Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. MKM Partners restated a “buy” rating and set a $22.00 price target on shares of Hertz Global Holdings in a research note on Wednesday, June 28th. Morgan Stanley cut their price target on shares of Hertz Global Holdings from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 12th. Barclays PLC set a $9.00 price target on shares of Hertz Global Holdings and gave the stock a “hold” rating in a research note on Sunday, May 14th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $16.00 price objective on shares of Hertz Global Holdings in a report on Tuesday, May 9th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Hertz Global Holdings has an average rating of “Hold” and a consensus price target of $21.50.

Shares of Hertz Global Holdings, Inc (NYSE HTZ) traded down 8.37% during mid-day trading on Friday, hitting $16.96. 12,040,098 shares of the company were exchanged. Hertz Global Holdings, Inc has a 12-month low of $8.52 and a 12-month high of $52.27. The company’s 50-day moving average price is $15.33 and its 200-day moving average price is $15.60. The firm’s market capitalization is $1.42 billion.

Hertz Global Holdings (NYSE:HTZ) last released its earnings results on Tuesday, August 8th. The transportation company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.51. The business had revenue of $2.22 billion during 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%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. Equities research analysts predict that Hertz Global Holdings, Inc will post ($1.63) earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Hertz Global Holdings by 46.2% in the first quarter. Bank of Montreal Can now owns 18,033 shares of the transportation company’s stock worth $316,000 after buying an additional 5,698 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Hertz Global Holdings during the first quarter worth about $174,000. First Manhattan Co. boosted its position in shares of Hertz Global Holdings by 251.6% in the first quarter. First Manhattan Co. now owns 7,267 shares of the transportation company’s stock worth $291,000 after buying an additional 5,200 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Hertz Global Holdings by 88.0% in the first quarter. Glen Harbor Capital Management LLC now owns 159,126 shares of the transportation company’s stock worth $2,791,000 after buying an additional 74,492 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new position in shares of Hertz Global Holdings during the first quarter worth about $474,000.

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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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