Hertz Global Holdings Inc. (HTZ) looking to reclaim success with recent performance

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.

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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.


Institutional Ownership:

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.

Analysts Ratings:

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.

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