An issue of Hertz Global Holdings, Inc (NYSE:HTZ) debt rose 2.6% as a percentage of its face value during trading on Wednesday after the company announced weaker than expected quarterly earnings. The high-yield issue of debt has a 6.25% coupon and will mature on October 15, 2022. The debt is now trading at $89.56 and was trading at $88.25 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price. The transportation company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.51. Hertz Global Holdings had a negative net margin of 7.60% and a negative return on equity of 1.86%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned $0.41 EPS. Hertz Global Holdings’s revenue for the quarter was down 2.0% compared to the same quarter last year.

HTZ has been the subject of several research reports. MKM Partners reaffirmed a “buy” rating and set a $22.00 price target on shares of Hertz Global Holdings in a research report on Wednesday, June 28th. BidaskClub raised shares of Hertz Global Holdings from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Morgan Stanley reduced their price target on shares of Hertz Global Holdings from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, May 12th. Zacks Investment Research raised shares of Hertz Global Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC set a $9.00 target price on shares of Hertz Global Holdings and gave the stock a “hold” rating in a report on Sunday, May 14th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Utah Retirement Systems increased its position in Hertz Global Holdings by 0.8% in the first quarter. Utah Retirement Systems now owns 13,156 shares of the transportation company’s stock valued at $231,000 after buying an additional 100 shares during the last quarter. Suntrust Banks Inc. increased its position in Hertz Global Holdings by 3.5% in the first quarter. Suntrust Banks Inc. now owns 12,822 shares of the transportation company’s stock valued at $224,000 after buying an additional 434 shares during the last quarter. Hosking Partners LLP increased its position in Hertz Global Holdings by 1.7% in the second quarter. Hosking Partners LLP now owns 54,315 shares of the transportation company’s stock valued at $625,000 after buying an additional 932 shares during the last quarter. SG Americas Securities LLC increased its position in Hertz Global Holdings by 0.9% in the second quarter. SG Americas Securities LLC now owns 125,433 shares of the transportation company’s stock valued at $1,442,000 after buying an additional 1,144 shares during the last quarter. Finally, M&T Bank Corp increased its position in Hertz Global Holdings by 18.9% in the first quarter. M&T Bank Corp now owns 21,284 shares of the transportation company’s stock valued at $373,000 after buying an additional 3,380 shares during the last quarter.

The firm’s market capitalization is $1.47 billion. The firm has a 50-day moving average of $13.07 and a 200-day moving average of $15.83.

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Hertz Global Holdings Company Profile

Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. It operates through four segments: U.S.

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