Barclays Initiates Coverage of Hertz Global Holdings (HTZ) with Underweight Recommendation

Fintel reports that on September 19, 2024, Barclays initiated coverage of Hertz Global Holdings (NasdaqGS:HTZ) with a Underweight recommendation.

Analyst Price Forecast Suggests 13.72% Upside

As of August 26, 2024, the average one-year price target for Hertz Global Holdings is $4.21/share. The forecasts range from a low of $2.93 to a high of $7.35. The average price target represents an increase of 13.72% from its latest reported closing price of $3.70 / share.

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The projected annual revenue for Hertz Global Holdings is 9,275MM, a decrease of 0.48%. The projected annual non-GAAP EPS is 1.58.

What is the Fund Sentiment?

There are 576 funds or institutions reporting positions in Hertz Global Holdings. This is an increase of 38 owner(s) or 7.06% in the last quarter. Average portfolio weight of all funds dedicated to HTZ is 0.13%, an increase of 49.51%. Total shares owned by institutions decreased in the last three months by 0.28% to 311,527K shares. The put/call ratio of HTZ is 1.03, indicating a bearish outlook.

What are Other Shareholders Doing?

Knighthead Capital Management holds 181,455K shares representing 59.20% ownership of the company. In its prior filing, the firm reported owning 181,455K shares , representing an increase of 0.00%. The firm decreased its portfolio allocation in HTZ by 42.75% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 8,503K shares representing 2.77% ownership of the company.

Goldman Sachs Group holds 6,198K shares representing 2.02% ownership of the company. In its prior filing, the firm reported owning 5,512K shares , representing an increase of 11.07%. The firm decreased its portfolio allocation in HTZ by 51.63% over the last quarter.

Aqr Capital Management holds 5,639K shares representing 1.84% ownership of the company. In its prior filing, the firm reported owning 2,798K shares , representing an increase of 50.38%. The firm decreased its portfolio allocation in HTZ by 20.18% over the last quarter.

Schonfeld Strategic Advisors holds 4,736K shares representing 1.55% ownership of the company. In its prior filing, the firm reported owning 461K shares , representing an increase of 90.27%. The firm increased its portfolio allocation in HTZ by 349.39% over the last quarter.

Hertz Global Holdings Background Information
(This description is provided by the company.)

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales.

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This story originally appeared on Fintel.

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