Carlotz Inc
Change company Symbol lookup
Select an option...
LOTZ Carlotz Inc
TSLA Tesla Inc
INN Summit Hotel Properties Inc
NCNO nCino Inc
FISK Empire State Realty OP LP
RMD Resmed Inc
BST BlackRock Science and Technology Trust
MPW Medical Properties Trust Inc
UWHR Uwharrie Capital Corp
ESI Element Solutions Inc
Go

Consumer Discretionary : Specialty Retail |
Company profile

CarLotz, Inc., formerly Acamar Partners Acquisition Corp., operates vehicle consignment and retail remarketing business. The Company provides its corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the retail sales channel. It operates a technology-enabled buying, sourcing and selling model that offers an omni-channel and selection of vehicles, while allowing for an end-to-end electronic commerce interface that enables buying and selling. The Company's Retail Remarketing technology provides its corporate vehicle sourcing partners with real-time performance metrics and data analytics, along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channel. The Company offers its products and services to corporate vehicle sourcing partners, retail sellers of used vehicles and retail customers seeking to buy used vehicles.

Closing Price
$1.80
Day's Change
-0.13 (-6.74%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.04
Day's Low
1.80
Volume
(Heavy Day)
Volume:
1,687,334

10-day average volume:
1,275,774
1,687,334

Hertz stock jumps after analysts recommend investors buy, while at the same time saying rival Avis Budget is a sell

2:48 pm ET December 6, 2021 (MarketWatch)
Print

By Tomi Kilgore

JPMorgan initiates Hertz at overweight, Deutsche Bank sees potential for stock to rise more than 30%

Shares of Hertz Global Holdings Inc. surged Monday after JPMorgan recommended investors buy, citing strong industry tailwinds and a number of company-specific drivers that make the car rental company more attractive than its close peer, Avis Budget Budget Group Inc.

Analyst Ryan Brinkman at JPMorgan initiated Hertz at overweight and set a $30 stock price target, which implies about 16% upside from current levels.

The stock (HTZ) ran up 7.8% in afternoon trading. It has slipped 0.9% since it closed its first day trading on the Nasdaq exchange on Nov. 9 following its emergence from bankruptcy on June 30.

Brinkman gave a number of reasons for his bullish stance on Hertz:

Hertz's stock has soared 56.6% over the past three months, including the time when it traded over the counter. But Avis Budget shares (CAR) have nearly tripled over the same time, rocketing 194.4%, after they got the meme treatment in the wake of strong third-quarter results, which followed a big jump in bearish bets on the stock. For context, the S&P 500 index has edged up 1.6% the past three months.

Brinkman rates Avis Budget at underweight with a price target of $225, which is 17% below current levels.

Brinkman wasn't the only analyst with a bullish call on Hertz on Monday. Deutsche Bank's Chris Woronka reinstated coverage, following a period of restriction, with a buy rating and $34 stock price target.

That target, which implies 31% upside from current levels, makes Woronka Wall Street's most bullish analyst on Hertz of the seven analysts surveyed by FactSet who cover the company.

Woronka said his buy rating was a "relative valuation call, above all else," as he rates Avis Budget at sell.

"In our view, the current valuation gap between the two companies is illogically wide," Woronka wrote.

Woronka said that while Hertz recently announced a $2 billion stock repurchase program, which at the time it was announced represented about 18% of the company's market capitalization, he believes it is "highly unlikely" that Avis Budget is currently buying back stock given how much prices have run up following third-quarter results.

"Our sense is that it will likely take some time for many investors to re-engage on the [Hertz] story, given that the stock was trading off of the major exchanges for nearly 18 months and the company was unable to be visible with the investment community," Woronka wrote. "That said, the potential ability to broaden out the investor base in light of a larger market cap and forward-looking growth initiatives that can appeal to multiple investor groups, should be viewed as a positive catalyst."

-Tomi Kilgore

	

(END) Dow Jones Newswires

December 06, 2021 14:48 ET (19:48 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.