Hertz stock jumps 12%

ESTERO — The stock of car rental giant Hertz rose significantly after it reported a profitable quarter.

Shares of Hertz (symbol: HTZ) closed at $9.54, up 12%, Tuesday. The Estero-based company has been bedeviled by accounting and operational problems since it moved its headquarters to Southwest Florida from New Jersey three years ago.

“By fundamentally improving our fleet management and reducing costs throughout the business, we delivered on our expected outcome for the fourth quarter and the full year, despite a highly competitive pricing environment,” says John Tague, president and CEO, in a statement.