Hertz Global (HTZ) Bonds Rise 1.8% During Trading

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An issue of Hertz Global Holdings, Inc (NYSE:HTZ) debt rose 1.8% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 5.5% coupon and will mature on October 15, 2024. The bonds in the issue are now trading at $80.38. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

HTZ has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Hertz Global from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, October 29th. ValuEngine upgraded shares of Hertz Global from a “hold” rating to a “buy” rating in a research report on Sunday, August 5th. TheStreet upgraded shares of Hertz Global from a “d” rating to a “c-” rating in a research report on Friday, August 24th. Goldman Sachs Group set a $13.00 price objective on shares of Hertz Global and gave the stock a “sell” rating in a research report on Tuesday, October 16th. Finally, Barclays upped their price objective on shares of Hertz Global from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

HTZ traded up $3.12 during midday trading on Friday, hitting $19.41. The stock had a trading volume of 19,605,416 shares, compared to its average volume of 3,503,353. The firm has a market cap of $1.32 billion, a P/E ratio of -12.21 and a beta of 0.89. The company has a debt-to-equity ratio of 16.24, a current ratio of 1.16 and a quick ratio of 1.16. Hertz Global Holdings, Inc has a 1 year low of $13.01 and a 1 year high of $25.14.

Hertz Global (NYSE:HTZ) last issued its earnings results on Thursday, November 8th. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.36. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. Hertz Global had a negative return on equity of 8.10% and a net margin of 4.87%. Hertz Global’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. On average, equities analysts anticipate that Hertz Global Holdings, Inc will post -0.9 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of HTZ. Dimensional Fund Advisors LP boosted its stake in Hertz Global by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,989,143 shares of the transportation company’s stock worth $107,214,000 after buying an additional 1,260,941 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Hertz Global by 21.2% in the second quarter. Gamco Investors INC. ET AL now owns 6,072,289 shares of the transportation company’s stock worth $93,149,000 after buying an additional 1,060,999 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hertz Global by 324.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 789,410 shares of the transportation company’s stock worth $12,110,000 after buying an additional 603,485 shares in the last quarter. Gabelli Funds LLC boosted its stake in Hertz Global by 35.5% in the second quarter. Gabelli Funds LLC now owns 1,844,700 shares of the transportation company’s stock worth $28,298,000 after buying an additional 483,620 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Hertz Global by 11.2% in the second quarter. Renaissance Technologies LLC now owns 4,551,300 shares of the transportation company’s stock worth $69,817,000 after buying an additional 457,260 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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