In just the past week, Hertz Global Holdings Inc. (NYSE: HTZ) was bouncing off its 52-week lows, and since it has made a handy recovery. At this point, investors might be asking themselves if the stock found its bottom and if it is finally safe. This bounce was provoked by developments surrounding Hertz having filed inaccurate financial statements with the U.S. Securities and Exchange Commission (SEC).

Hertz announced that it filed its annual report for 2014, which restated results for 2012 and 2013. It also included selected unaudited restated financial information for 2011. With this filing Hertz is now up to date on all of its filings with the SEC.

Hertz took this opportunity to update investors on its progress regarding the planned separation of its equipment rental business. This was announced in conjunction with plans for capital allocation, cost savings and a fleet refresh. The cash from the separation will be used to pay down debt and support additional share repurchase programs. However, Hertz did not stop there; the company also reaffirmed its $1 billion share repurchase program.

Finally, the company provided guidance on the 2015 fiscal year. Hertz expects consolidated corporate EBITDA of $1.45 billion to $1.55 billion, net non-fleet capex of $275 million to $296 million, and U.S. fleet capacity growth of 0.5% to 1.5%.

According to the consensus estimates from analysts, Hertz has a price-to-earnings (P/E) ratio of 22.6, based on 2015 earnings per share (EPS).

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John Tague, president and CEO of Hertz, said:

2015 is a transition year for Hertz. We are making important investments in our fleet, systems and service, and adding new talent to complement the existing expertise throughout the Company. In addition, we are taking actions to rationalize the Company’s cost platform, dramatically improve customer satisfaction and reset our capacity. These actions and early results are indicative of the progress we are making across the organization. Our commitment to the Company’s share buyback program is reflective of our confidence in driving operating performance that is sustainable and enables us to return capital to shareholders.

Shares of Hertz were up 12.8% to $19.17 Friday morning. The stock has a consensus analyst price target of $25.00 and a 52-week trading range of $16.65 to $31.61.

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