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

Avis Budget Group (NASDAQ:CAR - Get Free Report) had its target price reduced by equities researchers at Deutsche Bank Aktiengesellschaft from $145.00 to $143.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 61.56% from the stock's current price.

A number of other research firms have also recently issued reports on CAR. The Goldman Sachs Group cut their target price 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. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Monday. Susquehanna cut their price target on Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Barclays began coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an "equal weight" rating and a $105.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their target price 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Avis Budget Group currently has a consensus rating of "Moderate Buy" and an average price target of $133.13.

Avis Budget Group Stock Down 1.9 %

NASDAQ CAR traded down $1.76 during midday trading on Tuesday, hitting $88.51. The company had a trading volume of 665,073 shares, compared to its average volume of 722,328. The firm has a fifty day simple moving average of $82.05 and a two-hundred day simple moving average of $96.44. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $204.77. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 8.08 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 89.12%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.78 earnings per share. As a group, equities analysts predict that Avis Budget Group will post 6.66 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Valley Advisors LLC acquired a new stake in Avis Budget Group in the second quarter valued at $25,000. EntryPoint Capital LLC lifted its stake in Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider's stock valued at $28,000 after purchasing an additional 124 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings 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 purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC increased its position in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock worth $36,000 after buying 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 buying an additional 459 shares during the period. 96.35% of the stock is owned by institutional investors.

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.