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

Avis Budget Group (NASDAQ:CAR) had its price target reduced by research analysts at Deutsche Bank Aktiengesellschaft from $145.00 to $143.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 57.59% from the stock’s previous close.

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

Avis Budget Group Trading Up 0.5 %

Shares of CAR traded up $0.47 during midday trading on Tuesday, reaching $90.74. The stock had a trading volume of 25,017 shares, compared to its average volume of 719,337. The firm has a 50 day simple moving average of $82.01 and a 200-day simple moving average of $96.54. Avis Budget Group has a one year low of $65.73 and a one year high of $204.77. The firm has a market cap of $3.24 billion, a PE ratio of 8.12 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate of $8.55 by ($1.90). The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $16.78 EPS. As a group, research analysts forecast that Avis Budget Group will post 6.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Central Valley Advisors LLC acquired a new position in Avis Budget Group during the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC boosted its stake in Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after acquiring an additional 124 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after acquiring an additional 240 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Avis Budget Group by 293.3% in the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the last quarter. Finally, Signaturefd LLC grew its position in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after buying an additional 459 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.