Hertz Global Holdings, Inc. (HTZ): Jim Cramer Supports Larry Robbins’ Call

The car rental space has been a hot favorite among the investors in the recent few years. It has also led to car rental companies’ stock rally to new heights. Hertz Global Holdings, Inc. (NYSE:HTZ) which is the largest publicly traded car rental company on the U.S. markets suffered a blow recently when it announced that its earnings reports for 2011, 2012 and 2013 had some glitches due to accounting errors and it will be re-reporting those results after making corrections. This led the company’s stock to fall and it still trades 2% lower than, it’s last year’s closing price.

Hertz Global Holdings, Inc. (NYSE:HTZ)

Jim Cramer, on today’s edition of CNBC’s ‘Mad Money’, revealed that hedge fund manager Larry Robbins likes Hertz Global Holdings, Inc. (NYSE:HTZ) and discussed why he agrees with Robbins.

“The stock has been held back, but at this point I think the company has gotten past many problems that kept it down. However, before getting into positives here, let me just take a moment to go over the accounting issues. I never want to minimize them or at least conceal some serious problems, hence while the stock did drop 9% when the news came out, but in Hertz’s case the accounting problems were like relatively small […] and several tax lawyers have assured me these were very minor in origin,” Cramer said.

Cramer also revealed that Hertz Global Holdings, Inc. (NYSE:HTZ)’s new CFO wants to perform all the reinstatements in the most meticulous way possible and the accounting firm that did Hertz Global Holdings, Inc. (NYSE:HTZ) accounting is a good accounting firm that would have stopped dealing with Hertz Global Holdings, Inc. (NYSE:HTZ) if they found there was a problem.

In addition, Cramer considers that the fact that Hertz Global Holdings, Inc. (NYSE:HTZ) is operating in an oligopoly market dominated only by three companies, will also play a big role in driving the stock price of the company higher.

Disclosure: None

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!