Avis Budget Group (NASDAQ:CAR) Price Target Lowered to $143.00 at Deutsche Bank Aktiengesellschaft

Avis Budget Group (NASDAQ:CAR) had its target price cut by investment analysts at Deutsche Bank Aktiengesellschaft from $145.00 to $143.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 48.29% from the company’s current price.

Several other equities research analysts have also recently issued reports on CAR. Susquehanna decreased their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group decreased their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. dropped their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday. Finally, Barclays assumed coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.13.

Avis Budget Group Trading Up 8.9 %

Avis Budget Group stock opened at $96.43 on Tuesday. The stock has a 50-day moving average price of $82.35 and a 200 day moving average price of $96.44. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $204.77. The stock has a market cap of $3.44 billion, a PE ratio of 8.81 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a negative return on equity of 89.12% and a net margin of 3.34%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $16.78 earnings per share. On average, equities analysts predict that Avis Budget Group will post 6.66 EPS for the current year.

Hedge Funds Weigh In On Avis Budget Group

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in shares of Avis Budget Group by 77.8% in the first quarter. Janney Montgomery Scott LLC now owns 4,517 shares of the business services provider’s stock valued at $553,000 after buying an additional 1,977 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Avis Budget Group by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 16,167 shares of the business services provider’s stock valued at $1,980,000 after purchasing an additional 260 shares in the last quarter. Duality Advisers LP increased its stake in Avis Budget Group by 122.2% during the 1st quarter. Duality Advisers LP now owns 9,956 shares of the business services provider’s stock worth $1,219,000 after buying an additional 5,476 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Avis Budget Group in the 1st quarter worth $5,193,000. Finally, Inspire Investing LLC boosted its position in Avis Budget Group by 36.2% in the 1st quarter. Inspire Investing LLC now owns 2,932 shares of the business services provider’s stock valued at $359,000 after buying an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.