Hertz Global Holdings Stock Price Up 8.2% Following Analyst Upgrade (HTZ)

Revenue fell to $2.69 billion from $2.83 billion in the quarter ended June 30. Morgan Stanley lowered shares of Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Monday, July 20th.

There are now eight analysts that cover Hertz Global Holdings Inc stock.

Hertz Global Holdings, Inc (NYSE:HTZ): The mean short term price target for Hertz Global Holdings, Inc (NYSE:HTZ) has been established at $23.4 per share. As a result of these across the board changes, Hertz Global Holdings Inc (NYSE:HTZ) was able to boldly look back into its operations and clean up past errors. Credit Suisse initiated coverage on shares of Hertz Global Holdings in a research note on Monday, July 20th.

Shares of Hertz Global Holdings (NYSE:HTZ) traded up 0.67% during mid-day trading on Thursday, reaching $18.02. The New York-based fund Srs Investment Management Llc disclosed it had purchased a stake worth about 5.09% of the active investment manager’s stock portfolio in Hertz Global Holdings Inc. They set an “outperform” rating and a $23.00 price objective for the company. They noted that the move was a valuation call. The stock now has a consensus rating of “Hold” and an average price target of $24.68. The company reported $0.19 EPS for the quarter, hitting the analysts’ consensus estimate of $0.19.

Adjusted earnings dropped to $0.19 per share from $0.28 per share a year ago. In the last 50 and 100 days, Hertz Global Holdings Inc.is down 12.64% and down 17.44%, respectively. In terms of share statistics, HTZ has a total of 459.02 million shares outstanding with 1.82% held by insiders and 94.10% held by institutions.

The company is working to cut costs, and said in May that it would close about 200 non-airport locations in the U.S. In its equipment rental business segment, it rents equipment through approximately 340 branches in the United States, Canada, France, Spain, Italy, China and Saudi Arabia, as well as through its global licensees. The Company owns Donlen Corporation, a provider of fleet leasing and management services.