Hertz Global Holdings Inc. (NYSE: HTZ) Loses -92.76% From High. Why That Could Change?


    Norges Bank Investment Management recently announced the acquisition of new stake in Hertz Global Holdings Inc. (NYSE:HTZ). The institutional investor has increased its shareholding in the Industrials company by 69.39% to 1.57 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 1.10% valued currently at $2.27 million. In addition, Valiant Capital Management LP raised its holdings by 1.24 million to 1.24 million shares.

    With over 9.42 million Hertz Global Holdings Inc. (HTZ) shares trading Friday and a closing price of $1.51 on the day, the dollar volume was approximately $14.23 million. The shares have shown a positive weekly performance of 2.72% and its price on 08/28/20 gained nearly 4.14%. Currently, there are 156.21M common shares owned by the public and among those 155.64M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for HTZ have a consensus price objective of $2.76. The analysts have set the share’s price value over the next 12 months at a high of $3.51 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Hertz Global Holdings Inc. stock is 3.20 for the next 12 months. But an upside of 56.98% will see the stock hit the forecast high price target while mean target price for the stock is $2.76.

    Insiders at the company have transacted a total of 62 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 5,632,160 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 152,107 shares.

    The top 3 mutual fund holders in Hertz Global Holdings Inc. are DFA US Small Cap Value Portfolio, 1290 VT GAMCO Small Company Value, and Vanguard Total Stock Market Index. DFA US Small Cap Value Portfolio owns 4.59 million shares of the company’s stock, all valued at over $6.66 million. The company sold -0.44 million shares recently to bring their total holdings to about 3.23% of the shares outstanding. 1290 VT GAMCO Small Company Value bought 5000.0 shares to see its total holdings expand to 3.44 million shares valued at over $4.98 million and representing 2.41% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.74% of the shares outstanding.

    Shares of Hertz Global Holdings Inc. (NYSE: HTZ) opened at $1.45, unchanged from a prior closing price of $1.45. However, the script later closed the day at $1.51, up 4.14%. The company’s stock has a 5-day price change of 2.72% and 69.61% over the past three months. HTZ shares are trading -90.41% year to date (YTD), with the 12-month market performance down to -87.53% lower. It has a 12-month low price of $0.40 and touched a high of $20.85 over the same period. Currently, 9.42 million shares have been traded, compared to an average intraday trading volume of 59.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.40%, 0.32%, and -81.57% respectively.

    Institutional ownership of Hertz Global Holdings Inc. (NYSE: HTZ) shares accounts for 24.70% of the company’s 156.21M shares outstanding. Mutual fund holders own 30.52%, while other institutional holders and individual stakeholders account for 5.67% and 20.95% respectively.

    It has a market capitalization of $226.50M and a beta (3y monthly) value of 1.83. The earnings-per-share (ttm) stands at -$7.97. The company has a debt-to-equity ratio at 23.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.73% over the week and 7.77% over the month.

    Analysts forecast that Hertz Global Holdings Inc. (HTZ) will achieve an EPS of -$0.73 for the current quarter, -$1.22 for the next quarter and -$1.14 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.46 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $1.6 a year ago. Earnings per share for the fiscal year are expected to increase by 76.40%, and 83.90% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Hertz Global Holdings Inc. (HTZ) as a “Hold” at a consensus score of 3.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the HTZ, a number of firms have released research notes about the stock. Barclays stated their Underweight rating for the stock in a research note on April 27, 2020, with the firm’s price target at $10-$2. JP Morgan coverage for the Hertz Global Holdings Inc. (HTZ) stock in a research note released on April 23, 2020 offered a Underweight rating with a price target of. Northcoast was of a view on April 09, 2020 that the stock is Neutral, while Consumer Edge Research gave the stock Underweight rating on March 27, 2020, issuing a price target of $6. Barclays on their part issued Equal Weight rating on March 25, 2020.


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