Is There More Upside Ahead For Hertz Global Holdings Inc. (NASDAQ: HTZ)

Hertz Global Holdings Inc. (HTZ) concluded trading on Thursday at a closing price of $7.85, with 3.95 million shares of worth about $31.01 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -54.31% during that period and on Thursday the price saw a loss of about -0.38%. Currently the company’s common shares owned by public are about 305.18M shares, out of which, 137.41M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 1,933,374 shares in 20 of the transactions. In 10 selling transactions, insiders dumped 86,187 shares.

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Stock saw a price change of 8.13% in past 5 days and over the past one month there was a price change of -9.04%. Year-to-date (YTD), HTZ shares are showing a performance of -24.45% which decreased to -57.59% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.07 but also hit the highest price of $20.48 during that period. The average intraday trading volume for Hertz Global Holdings Inc. shares is 5.35 million. The stock is currently trading -2.16% below its 20-day simple moving average (SMA20), while that difference is down -11.48% for SMA50 and it goes to -39.05% lower than SMA200.

The stock has a current market capitalization of $1.12B and its 3Y-monthly beta is at 2.03. PE ratio of stock for trailing 12 months is 4.28, while it has posted earnings per share of $1.83 in the same period. It has Quick Ratio of 1.82 while making debt-to-equity ratio of 5.77. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HTZ, volatility over the week remained 4.85% while standing at 5.78% over the month.

Analysts are in expectations that Hertz Global Holdings Inc. (HTZ) stock would likely to be making an EPS of -$0.37 in the current quarter, while forecast for next quarter EPS is $0.12 and it is $0.97 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.71 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.39 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 5.27% while it is estimated to increase by 110.85% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on February 08, 2024 offering an Equal-weight rating for the stock and assigned a target price range of between $15 and $10 to it. Coverage by JP Morgan stated Hertz Global Holdings Inc. (HTZ) stock as a Neutral in their note to investors on January 25, 2024, suggesting a price target of $11 for the stock. On January 25, 2024, Deutsche Bank Downgrade their recommendations, while on January 19, 2024, Jefferies Downgrade their ratings for the stock with a price target of $8. Stock get an Overweight rating from Morgan Stanley on January 18, 2024.

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