why Hertz Global Holdings Inc. [HTZ] is a Good Choice for Investors After New Price Target of $25.20

Hertz Global Holdings Inc. [NASDAQ: HTZ] slipped around -0.03 points on Wednesday, while shares priced at $15.15 at the close of the session, down -0.20%. The company report on April 20, 2023 at 6:30 AM that Herc Holdings Reports Record First Quarter 2023 Results and Affirms 2023 Full Year Guidance.

First Quarter Highlights– Record equipment rental revenue of $654 million, an increase of 24%– Record total revenues of $740 million, an increase of 30%– Net income increased 16% to $67 million, or $2.28 per diluted share– Adjusted EBITDA of $308 million increased 30%; adjusted EBITDA margin at 41.6%– Rental pricing increased 7.0% year-over-year– Common stock repurchases of approximately 460,000 shares.

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Herc Holdings Inc. (NYSE: HRI) (“Herc Holdings” or the “Company”) today reported financial results for the quarter ended March 31, 2023. Equipment rental revenue was $654 million and total revenues were $740 million in the first quarter of 2023, compared to $527 million and $568 million, respectively, for the same period last year. In the first quarter of 2023, the Company reported net income of $67 million, or $2.28 per diluted share, an increase of 19% compared to $58 million, or $1.92 per diluted share, in the same 2022 period.

Hertz Global Holdings Inc. stock is now -1.56% down from its year-to-date (YTD) trading value. HTZ Stock saw the intraday high of $15.455 and lowest of $15.09 per share. The company’s 52-week high price is 24.34, which means current price is +2.01% above from all time high which was touched on 03/06/23.

Compared to the average trading volume of 3.90M shares, HTZ reached a trading volume of 4547491 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hertz Global Holdings Inc. [HTZ]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HTZ shares is $25.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HTZ stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Susquehanna have made an estimate for Hertz Global Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on January 13, 2022, representing the official price target for Hertz Global Holdings Inc. stock. Previously, the target price had yet another raise to $34, while Deutsche Bank analysts kept a Buy rating on HTZ stock.

The Average True Range (ATR) for Hertz Global Holdings Inc. is set at 0.61, with the Price to Sales ratio for HTZ stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 2.96. Price to Free Cash Flow for HTZ in the course of the last twelve months was 2.02.

How has HTZ stock performed recently?

Hertz Global Holdings Inc. [HTZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.26. With this latest performance, HTZ shares dropped by -2.38% in over the last four-week period, additionally sinking by -17.66% over the last 6 months – not to mention a drop of -35.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HTZ stock in for the last two-week period is set at 42.29, with the RSI for the last a single of trading hit 41.97, and the three-weeks RSI is set at 42.79 for Hertz Global Holdings Inc. [HTZ]. The present Moving Average for the last 50 days of trading for this stock 16.87, while it was recorded at 15.31 for the last single week of trading, and 17.53 for the last 200 days.

Hertz Global Holdings Inc. [HTZ]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Hertz Global Holdings Inc. [HTZ] shares currently have an operating margin of +23.89 and a Gross Margin at +34.93. Hertz Global Holdings Inc.’s Net Margin is presently recorded at +23.71.

Return on Total Capital for HTZ is now 12.31, given the latest momentum, and Return on Invested Capital for the company is 12.22. Return on Equity for this stock inclined to 73.25, with Return on Assets sitting at 9.74. When it comes to the capital structure of this company, Hertz Global Holdings Inc. [HTZ] has a Total Debt to Total Equity ratio set at 592.25. Additionally, HTZ Total Debt to Total Capital is recorded at 85.55, with Total Debt to Total Assets ending up at 69.63. Long-Term Debt to Equity for the company is recorded at 592.25, with the Long-Term Debt to Total Capital now at 85.55.

Reflecting on the efficiency of the workforce at the company, Hertz Global Holdings Inc. [HTZ] managed to generate an average of $82,360 per employee. Receivables Turnover for the company is 10.03 with a Total Asset Turnover recorded at a value of 0.41.

Insider trade positions for Hertz Global Holdings Inc. [HTZ]

There are presently around $4,839 million, or 100.46% of HTZ stock, in the hands of institutional investors. The top three institutional holders of HTZ stocks are: KNIGHTHEAD CAPITAL MANAGEMENT, LLC with ownership of 181,455,469, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 14,187,744 shares of the stock with an approximate value of $214.94 million in HTZ stocks shares; and GOLDMAN SACHS GROUP INC, currently with $156.54 million in HTZ stock with ownership of nearly 1.126% of the company’s market capitalization.

Positions in Hertz Global Holdings Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 119 institutional holders increased their position in Hertz Global Holdings Inc. [NASDAQ:HTZ] by around 14,055,196 shares. Additionally, 134 investors decreased positions by around 28,222,172 shares, while 38 investors held positions by with 277,116,300 shares. The mentioned changes placed institutional holdings at 319,393,668 shares, according to the latest SEC report filing. HTZ stock had 66 new institutional investments in for a total of 9,238,429 shares, while 42 institutional investors sold positions of 5,479,081 shares during the same period.


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