Hertz Reports 15% Increase in Website Search Traffic
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Hertz (HTZ) reported a roughly 15% increase in website search traffic as travelers opt for road trips amid airport disruptions tied to the partial government shutdown, with about 33% of customers renting specifically for driving vacations to avoid crowded Transportation Security Administration lines, Donald Wood of TravelPulse reports. The company is offering up to 25% off last-minute and one-way rentals and advising customers to prepay for fuel, consider neighborhood pickup locations, and add flight details to protect reservations, according to the report. Shares of Hertz are up nearly 16% to $5.07, while shares of Avis Budget (CAR) are up 15.3% to $142.51.
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Analyst Views on HTZ
Wall Street analysts forecast HTZ stock price to rise
3 Analyst Rating
0 Buy
2 Hold
1 Sell
Moderate Sell
Current: 4.480
Low
3.00
Averages
4.83
High
6.00
Current: 4.480
Low
3.00
Averages
4.83
High
6.00
About HTZ
Hertz Global Holdings, Inc. is a car rental and mobility solutions provider. The Company's subsidiaries and licensees operate the Hertz, Dollar, Thrifty and Firefly vehicle rental brands with more than 11,000 rental locations in 160 countries around the globe, as well as the Hertz Car Sales brand, which offers a range of used cars for sale online and at locations across the United States, and the Hertz 24/7 car sharing business in Europe. The Company's segments include Americas RAC and International RAC. Its Americas RAC segment includes rental of vehicles, as well as sales of vehicles and value-added services, in the United States, Canada, Latin America and the Caribbean. The Company's International RAC segment includes rental of vehicles, as well as sales of vehicles and value-added services, in locations other than the United States, Canada, Latin America and the Caribbean. The Company has franchisees and partners that operate rental locations under its brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Volatility Expectations: With uncertainties in travel and economic conditions, Avis Budget is poised for more volatility catalysts ahead, advising investors to remain vigilant when considering investments.
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- Impact of Airport Chaos: As the partial government shutdown affects domestic airports, more travelers are opting for rental cars, with Hertz Global experiencing a roughly 15% surge in web traffic, reflecting consumers' adaptability in response to airport congestion.
- Notable Short Selling Risks: As of mid-March, 23.5% of Avis Budget's float was still sold short, which could trigger a short squeeze that drives the stock price sharply higher, while also facing risks from economic downturns or global unrest.
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