Avis Budget Group (NASDAQ:CAR) PT Lowered to $140.00 at Bank of America

Avis Budget Group (NASDAQ:CAR) had its price objective trimmed by Bank of America from $170.00 to $140.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

CAR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $202.00 to $183.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Susquehanna dropped their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a neutral rating on the stock in a research note on Tuesday. The Goldman Sachs Group upgraded shares of Avis Budget Group from a sell rating to a neutral rating and raised their target price for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. Morgan Stanley dropped their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an overweight rating on the stock in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Avis Budget Group from a sell rating to a hold rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Avis Budget Group currently has a consensus rating of Moderate Buy and a consensus target price of $164.57.

Avis Budget Group Stock Up 1.6 %

NASDAQ CAR opened at $115.60 on Wednesday. The firm has a 50 day moving average of $111.63 and a two-hundred day moving average of $150.53. The stock has a market capitalization of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28. Avis Budget Group has a 52 week low of $93.53 and a 52 week high of $244.95.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 729.43%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $7.72 EPS. Avis Budget Group’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that Avis Budget Group will post 13.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors have recently modified their holdings of the company. Denali Advisors LLC lifted its stake in shares of Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after buying an additional 112 shares during the period. Huntington National Bank grew its position in shares of Avis Budget Group by 101.0% in the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after acquiring an additional 105 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 311 shares during the last quarter. Headlands Technologies LLC bought a new position in Avis Budget Group during the fourth quarter worth $79,000. Finally, CWM LLC lifted its stake in Avis Budget Group by 248.2% during the third quarter. CWM LLC now owns 491 shares of the business services provider’s stock worth $88,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.