Hertz Global Holdings Inc Receives a Hold from Barclays

By Jason Carr

Barclays analyst Brian Johnson reiterated a Hold rating on Hertz Global Holdings Inc (NYSE: HTZ) today and set a price target of $31. The company’s shares opened today at $28.43.

Johnson said:

“We use this note as a way to thoroughly answer those questions. What drove such a wide miss / guidance cut? HTZ flagged depreciation, lower revenue, timing on cost saves, and other one-timers as the drivers of the $300mn guidedown for ’16 EBITDA.”

According to TipRanks.com, Johnson is a 3-star analyst with an average return of 0.7% and a 57.6% success rate. Johnson covers the Consumer Goods sector, focusing on stocks such as Tenneco Automotive, Delphi Automotive, and Johnson Controls.

Currently, the analyst consensus on Hertz Global Holdings Inc is Moderate Buy and the average price target is $39, representing a 37.2% upside.

In a report issued on November 8, Deutsche Bank also downgraded the stock to Hold with a $24 price target.

Based on Hertz Global Holdings Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.54 billion and quarterly net profit of $42 million. In comparison, last year the company earned revenue of $2.98 billion and had a net profit of $237 million.

Hertz Global Holdings, Inc. is an equipment rental companies in the North American equipment rental industry. The company was headquartered in Estero, FL.