Hertz Global Holdings Inc. (NASDAQ: HTZ) stock jumped 0.30% on Wednesday to $16.85 against a previous-day closing price of $16.80. With 1.29 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.65 million shares. During the session, the Rental & Leasing Services company that operates in wider Industrials sector, reached to the highest price of $16.86 whereas the lowest price it dropped to was $16.56. The 52-week range on HTZ shows that it touched its highest point at $26.93 and its lowest point at $15.00 during that stretch. It currently has a 1-year price target of $26.60.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HTZ was down-trending over the past week, with a drop of -1.52%, but this was down by -11.46% over a month. Three-month performance dropped to -14.38% while six-month performance fell -10.52%. The stock lost -23.30% in the past year, while it has lost -32.57% so far this year. A look at the trailing 12-month EPS for HTZ yields 3.16 with Next year EPS estimates of 2.38. For the next quarter, that number is 0.49. This implies an EPS growth rate of 97.70% for this year and -35.22% for next year.
Float and Shares Shorts:
At present, 355.00 million HTZ shares are outstanding with a float of 330.36 million shares on hand for trading. On Oct 13, 2022, short shares totaled 24.43 million, which was 6.78% higher than short shares on Sep 14, 2022. In addition to Mr. Paul E. Stone as the firm’s Pres & COO, Mr. Kenny K. Cheung serves as its CFO & Exec. VP.
Through their ownership of 99.39% of HTZ’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 86.01% of HTZ, in contrast to 13.63% held by mutual funds. Shares owned by individuals account for 1.25%. As the largest shareholder in HTZ with 54.34% of the stake, Knighthead Capital Management LLC holds 181,455,469 shares worth 181,455,469. A second-largest stockholder of HTZ, The Vanguard Group, Inc., holds 16,189,524 shares, controlling over 4.85% of the firm’s shares. Oaktree Capital Management LP is the third largest shareholder in HTZ, holding 10,468,579 shares or 3.14% stake. With a 1.62% stake in HTZ, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 5,416,553 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.39% of HTZ stock, is the second-largest Mutual Fund holder. It holds 4,648,863 shares valued at 85.54 million. Vanguard Small Cap Value Index Fu holds 0.95% of the stake in HTZ, owning 3,184,478 shares worth 58.59 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HTZ since 5 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HTZ analysts setting a high price target of $29.00 and a low target of $20.00, the average target price over the next 12 months is $24.75. Based on these targets, HTZ could surge 72.11% to reach the target high and rise by 18.69% to reach the target low. Reaching the average price target will result in a growth of 46.88% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HTZ will report FY 2022 earnings on 02/27/2023. Analysts have provided yearly estimates in a range of $5.22 being high and $3.58 being low. For HTZ, this leads to a yearly average estimate of $4.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Hertz Global Holdings Inc. surprised analysts by $0.03 when it reported $1.08 EPS against a consensus estimate of $1.05. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is $0.57 and the low estimate is $0.41. The average estimate for the next quarter is thus $0.52.
Summary of Insider Activity:
Insiders traded HTZ stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 1,536 shares were bought while 22,993 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 3,278,723 while 212,780 shares were sold.