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

Avis Budget Group (NASDAQ:CAR) had its target price reduced by Deutsche Bank Aktiengesellschaft from $145.00 to $143.00 in a research report report published on Tuesday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the business services provider’s stock.

A number of other research firms also recently weighed in on CAR. Susquehanna reduced their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group decreased their target price on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. dropped their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday. Four 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.13.

Avis Budget Group Trading Down 1.7 %

Shares of CAR opened at $94.79 on Tuesday. The stock has a 50 day moving average of $82.60 and a 200 day moving average of $96.43. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 8.66 and a beta of 2.14. Avis Budget Group has a 12 month low of $65.73 and a 12 month high of $204.77.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $16.78 earnings per share. As a group, equities research analysts predict that Avis Budget Group will post 6.66 earnings per share for the current year.

Hedge Funds Weigh In On Avis Budget Group

Several hedge funds have recently bought and sold shares of CAR. Central Valley Advisors LLC bought a new stake in Avis Budget Group during the second quarter valued at $25,000. EntryPoint Capital LLC boosted its position in shares of Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 124 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of 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 purchasing an additional 240 shares in the last quarter. Nisa Investment Advisors LLC increased its position 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 worth $36,000 after purchasing an additional 305 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 459 shares in 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.