Hertz Global Holdings Inc (HRI) Downgraded to “Sell” at Zacks Investment Research

Hertz Global Holdings Inc (NYSE:HRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Herc Holdings, Inc. through its subsidiary Herc Rentals Inc. provides equipment rental suppliers primarily in North America. The company is a full-line equipment-rental supplier in commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture. The equipment rental business is supported by ProSolutions (Tm). Herc Holdings Inc., formerly known as Hertz Global Holdings, Inc., is based in Bonita Springs, United States. “

HRI has been the subject of several other reports. Northcoast Research cut Hertz Global Holdings from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 7th. They noted that the move was a valuation call. Goldman Sachs Group Inc started coverage on Hertz Global Holdings in a research report on Friday, December 9th. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Barclays PLC reissued a “hold” rating and issued a $46.00 price objective on shares of Hertz Global Holdings in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Hertz Global Holdings presently has a consensus rating of “Hold” and an average price target of $46.33.

Analyst Recommendations for Hertz Global Holdings (NYSE:HRI)

Hertz Global Holdings (NYSE:HRI) traded down 2.81% during trading on Friday, reaching $45.63. 306,260 shares of the company’s stock traded hands. The firm has a 50 day moving average of $47.36 and a 200 day moving average of $42.10. Hertz Global Holdings has a 1-year low of $28.66 and a 1-year high of $531.30. The firm’s market capitalization is $1.29 billion.

Hertz Global Holdings (NYSE:HRI) last posted its quarterly earnings data on Wednesday, March 1st. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.69. Hertz Global Holdings had a net margin of 0.25% and a negative return on equity of 1.81%. The business earned $405.20 million during the quarter, compared to the consensus estimate of $412.15 million. Hertz Global Holdings’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts forecast that Hertz Global Holdings will post $0.38 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC purchased a new position in shares of Hertz Global Holdings during the fourth quarter valued at approximately $216,000. Private Advisor Group LLC purchased a new position in shares of Hertz Global Holdings during the fourth quarter valued at approximately $219,000. Barings LLC purchased a new position in shares of Hertz Global Holdings during the fourth quarter valued at approximately $281,000. Guggenheim Capital LLC purchased a new position in shares of Hertz Global Holdings during the fourth quarter valued at approximately $330,000. Finally, Private Bank & Trust Co. purchased a new position in shares of Hertz Global Holdings during the first quarter valued at approximately $330,000. 96.57% of the stock is owned by hedge funds and other institutional investors.

Hertz Global Holdings Company Profile

Hertz Global Holdings, Inc (Hertz Global) is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global’s primary operating company. The Company operates through three segments. The U.S. Car Rental (U.S. RAC) segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States.

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