Hertz Global Holdings Inc. [HTZ] Stock trading around $7.26 per share: What’s Next?

Hertz Global Holdings Inc. [NASDAQ: HTZ] loss -0.14% or -0.01 points to close at $7.26 with a heavy trading volume of 3628441 shares. The company report on February 6, 2024 at 7:30 AM that HERTZ REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS.

“Our business benefitted from solid demand and a stable rate environment in the fourth quarter,” said Stephen Scherr, Hertz chair and chief executive officer. “Nevertheless, we continued to face headwinds related to our electric vehicle fleet and other costs throughout the quarter. We have taken steps to address those challenges and heading into 2024, we are confident that our planned reduction in EVs and cost base, along with the ongoing execution of our enhanced profitability plan, will enable us to regain our operational cadence and improve our financial performance with increasing effect into 2025.”.

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Hertz Global Holdings, Inc. (NASDAQ: HTZ) (“Hertz”, “Hertz Global” or the “Company”) today reported results for its fourth quarter and full year 2023.

The daily chart for HTZ points out that the company has recorded -57.86% loss over the past six months.

If we look at the average trading volume of 5.31M shares, HTZ reached to a volume of 3628441 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $9.50 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 3.00. 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.

Morgan Stanley have made an estimate for Hertz Global Holdings Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on February 08, 2024. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $17 to $11. The new note on the price target was released on January 25, 2024, representing the official price target for Hertz Global Holdings Inc. stock. Previously, the target price had yet another drop from $16 to $9, while Deutsche Bank kept a Hold rating on HTZ stock. On January 19, 2024, analysts decreased their price target for HTZ shares from 12 to 8.

The Average True Range (ATR) for Hertz Global Holdings Inc. is set at 0.47, with the Price to Sales ratio for HTZ stock in the period of the last 12 months amounting to 0.11. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 8.49.

Trading performance analysis for HTZ stock

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 -6.08. With this latest performance, HTZ shares dropped by -16.84% in over the last four-week period, additionally sinking by -57.86% over the last 6 months – not to mention a drop of -61.49% 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 34.07, with the RSI for the last a single of trading hit 30.35, and the three-weeks RSI is set at 36.57 for Hertz Global Holdings Inc. [HTZ]. The present Moving Average for the last 50 days of trading for this stock 9.01, while it was recorded at 7.48 for the last single week of trading, and 13.05 for the last 200 days.

Hertz Global Holdings Inc. [HTZ]: A deeper dive into fundamental analysis

Hertz Global Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.82 and a Current Ratio set at 1.82.

Hertz Global Holdings Inc. [HTZ]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Hertz Global Holdings Inc. posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 85.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HTZ.

An analysis of Institutional ownership at Hertz Global Holdings Inc. [HTZ]

The top three institutional holders of HTZ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HTZ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HTZ stock with ownership which is approximately 5.8325%.