Hertz Global Holdings, Inc (HTZ) Debt Trading 1.2% Higher

An issue of Hertz Global Holdings, Inc (NYSE:HTZ) debt rose 1.2% against its face value during trading on Monday. The debt issue has a 7.375% coupon and will mature on January 15, 2021. The debt is now trading at $101.19 and was trading at $99.50 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several research firms have recently weighed in on HTZ. MKM Partners reiterated a “buy” rating and issued a $29.00 target price (down previously from $33.00) on shares of Hertz Global Holdings in a research note on Sunday. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 target price on shares of Hertz Global Holdings in a research note on Wednesday, March 1st. Morgan Stanley reduced their target price on shares of Hertz Global Holdings from $30.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 28th. Barclays PLC reiterated an “equal weight” rating and issued a $23.00 target price (down previously from $31.00) on shares of Hertz Global Holdings in a research note on Friday, February 24th. Finally, Zacks Investment Research downgraded shares of Hertz Global Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.67.

Shares of Hertz Global Holdings, Inc (NYSE:HTZ) traded down 1.98% during trading on Monday, reaching $21.26. 1,680,353 shares of the company traded hands. Hertz Global Holdings, Inc has a 52 week low of $17.20 and a 52 week high of $53.14. The company’s 50-day moving average price is $21.13 and its 200-day moving average price is $29.08. The company’s market capitalization is $1.77 billion.

Hertz Global Holdings (NYSE:HTZ) last announced its quarterly earnings results on Monday, February 27th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by $0.27. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.04 billion. Hertz Global Holdings’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. Equities research analysts forecast that Hertz Global Holdings, Inc will post $1.10 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Icahn Carl C boosted its position in shares of Hertz Global Holdings by 126.2% in the fourth quarter. Icahn Carl C now owns 29,263,869 shares of the company’s stock worth $630,929,000 after buying an additional 16,325,273 shares during the last quarter. Glenview Capital Management LLC purchased a new position in shares of Hertz Global Holdings during the fourth quarter worth about $94,107,000. Gamco Investors INC. ET AL boosted its position in shares of Hertz Global Holdings by 52.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,258,147 shares of the company’s stock worth $48,686,000 after buying an additional 772,757 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Hertz Global Holdings by 184.7% in the fourth quarter. Gabelli Funds LLC now owns 1,715,463 shares of the company’s stock worth $36,985,000 after buying an additional 1,112,963 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Hertz Global Holdings during the fourth quarter worth about $27,545,000. Institutional investors own 91.26% of the company’s stock.

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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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