Hertz Expands in Saudi Arabia - Analyst Blog

By Zacks Equity Research,

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Hertz Global Holdings Inc. ( HTZ ) seems to be on an expansion spree as it announced the opening of a new rental location in Riyadh in the Kingdom of Saudi Arabia by its joint venture enterprise with Dayim Systems titled Hertz Dayim Equipment Rental. It is now a registered vendor in the region with various contractors.

Hertz Dayim has introduced a greenfield site in the country's capital, Riyadh. The facility will cater to Central Province-based commercial, construction, infrastructure, military, government, industrial sectors and event services. The company, which also operates in the Eastern and Western Provinces at Dammam and Jeddah, respectively, rents and sells tools and equipments, apart from lending complete fleet management services in the region.

Located at one of the busiest highways, the new 7,000 square meter yard facility is well connected with Riyadh's five industrial cities and has direct access to the Dammam highway.

Hertz Dayim's expansion in Saudi Arabia is currently in full swing, as the Central Province has tremendous potential owing to its plans for significant expenditure on big-scale urban infrastructure undertakings, like the Riyadh Metro project and other large-scale investments in highways, medical cities and commercial centers.

With its presence in three main regions in Saudi Arabia, the company aims to offer quality rental solutions to clients. Going forward, Hertz-Dayim intends to strengthen its national foothold by introducing smaller regional centers in order to vie for the slot of the top equipment rental company in the country.

Hertz, a vehicle rental giant, currently carries a Zacks Rank #4 (Sell). However, other better-ranked stocks in the same industry include Odyssey Marine Exploration Inc. ( OMEX ), with a Zacks Rank #1 (Strong Buy), and Avis Budget Group, Inc. ( CAR ) and ExamWorks Group, Inc. ( EXAM ), both holding a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: CAR , EXAM , HTZ , OMEX

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