Avis Budget Group (NASDAQ:CAR) PT Lowered to $183.00

Avis Budget Group (NASDAQ:CAR) had its price objective dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $183.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 80.03% from the company’s current price.

A number of other brokerages have also recently commented on CAR. JPMorgan Chase & Co. reduced their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Morgan Stanley cut their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Susquehanna cut their price target on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Bank of America assumed coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They set a “buy” rating and a $170.00 price target for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group has an average rating of “Moderate Buy” and a consensus target price of $172.86.

Avis Budget Group Trading Down 0.3 %

Shares of CAR stock opened at $101.65 on Thursday. The firm has a fifty day moving average price of $115.87 and a 200 day moving average price of $156.13. The company has a market cap of $3.62 billion, a P/E ratio of 2.39 and a beta of 2.22. Avis Budget Group has a 12 month low of $99.60 and a 12 month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the firm posted $10.46 earnings per share. Avis Budget Group’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that Avis Budget Group will post 15.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in shares of Avis Budget Group by 33.3% in the third quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock valued at $13,060,000 after purchasing an additional 18,167 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Avis Budget Group by 165.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 15,943 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in shares of Avis Budget Group by 274.9% in the third quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock valued at $1,528,000 after purchasing an additional 6,234 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Avis Budget Group during the fourth quarter worth approximately $12,317,000. Finally, AQR Capital Management LLC boosted its position in Avis Budget Group by 26.2% during the third quarter. AQR Capital Management LLC now owns 39,080 shares of the business services provider’s stock worth $7,022,000 after acquiring an additional 8,115 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Avis Budget Group

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.