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Ouch. Here's Why Hertz Global Holdings, Inc. Stock Plunged Tuesday
10 May 2017, 03:05 | Ruby West
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Zacks Investment Research lowered shares of Hertz Global Holdings from a "hold" rating to a "sell" rating in a report on Thursday, February 23rd. Icahn Carl C now owns 29,263,869 shares of the transportation company's stock valued at $630,929,000 after buying an additional 16,325,273 shares in the last quarter. Barclays PLC restated an "equal weight" rating and issued a $23.00 price objective (down from $31.00) on shares of Hertz Global Holdings in a report on Friday, February 24th. The stock volatility for week was 6.34% while for month was 4.53%.The stock, as of last close, traded 4.12% to its 52 week low and was changed -71.94% from its 52 week high.
The target price for Hertz Global Holdings, Inc. (NYSE:HTZ) now have an ABR of 3.00.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. The company now has a consensus rating of "Hold" and an average target price of $34.38.
Shares of Hertz Global Holdings (NYSE:HTZ) traded down 12.4245% on Tuesday, hitting $13.0575.
If we look at stock performance in last active day trading, we see that stock has moved slumped -1.05% to end the day at $102.77. Hertz Global Holdings has a 52 week low of $11.78 and a 52 week high of $53.14.
Hertz Global Holdings, Inc (NYSE:HTZ) late Monday posted much worse than expected first quarter earnings results, reporting a massive loss amid a drop in sales. The firm earned $2.01 billion during the quarter, compared to analyst estimates of $2.04 billion. The firm's quarterly revenue was down 3.4% on a year-over-year basis.
Once the concept of beta is understood, an investor can intuitively determine whether or not a particular stock has a high or low beta. If you are reading this piece on another publication, it was copied illegally and republished in violation of USA & worldwide copyright & trademark laws. (NYSE:HTZ) reported an extremely weak 1Q, missing consensus estimates by a wide margin.
Two other important profitability ratios for investors to know are both returns-based ratios that measure a company's ability to create wealth for shareholders. GSA Capital Partners LLP raised its position in shares of Hertz Global Holdings by 15.7% in the fourth quarter.
According to Zacks, "Hertz Global Holdings, Inc. operates auto rental business". (NYSE:HTZ) is performing -30.84%. The biggest holder now is Michel Taride who owns 282,286 shares (0.34% of those outstanding), whilst Mr. Thomas J. Sabatino, Jr holds 235,362 (0.28% of shares outstanding) and Joseph R. Nothwang holds 154,834 (0.18% of shares outstanding). Dimensional Fund Advisors LP now owns 1,136,099 shares of the transportation company's stock worth $24,494,000 after buying an additional 84,736 shares during the last quarter.
02/17/2017 - Hertz Global Holdings, Inc was downgraded to " by analysts at Credit Suisse. State Board of Administration of Florida Retirement System increased its stake in Hertz Global Holdings by 3.0% in the fourth quarter.
Even as its cars were losing value at a faster rate, Hertz sold 21 per cent more vehicles than it did a year ago, which added to losses. USA vehicle utilization was lower by 3 percentage points in Q1.
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