Avis Budget Group (NASDAQ:CAR) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $50.00 to $69.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential downside of 22.48% from the company’s previous close.

Several other research firms have also commented on CAR. JPMorgan Chase & Co. reduced their price target on shares of Avis Budget Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 18th. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 target price on shares of Avis Budget Group in a research report on Monday, March 22nd. Barclays boosted their target price on Avis Budget Group from $42.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 21st. Finally, Bank of America reissued a “neutral” rating on shares of Avis Budget Group in a research report on Monday, April 26th. Six equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $54.83.

CAR stock opened at $89.01 on Tuesday. The firm has a market cap of $6.22 billion, a PE ratio of -13.61 and a beta of 2.31. The firm’s 50 day moving average price is $75.74 and its 200-day moving average price is $49.83. Avis Budget Group has a one year low of $9.44 and a one year high of $90.29.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Sunday, May 2nd. The business services provider reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.68) by $2.22. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.24 billion. Avis Budget Group had a negative net margin of 7.28% and a negative return on equity of 199.17%. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.40) EPS. On average, sell-side analysts forecast that Avis Budget Group will post -6.29 EPS for the current fiscal year.

In related news, CFO Brian J. Choi acquired 23,735 shares of the business’s stock in a transaction dated Friday, February 19th. The shares were acquired at an average price of $45.88 per share, with a total value of $1,088,961.80. Following the completion of the transaction, the chief financial officer now owns 22,000 shares of the company’s stock, valued at $1,009,360. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian J. Choi acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 25th. The shares were bought at an average cost of $55.68 per share, for a total transaction of $556,800.00. Following the transaction, the chief financial officer now directly owns 28,200 shares of the company’s stock, valued at approximately $1,570,176. The disclosure for this purchase can be found here. 23.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. acquired a new position in shares of Avis Budget Group during the first quarter worth $40,000. International Assets Investment Management LLC acquired a new position in shares of Avis Budget Group during the fourth quarter worth $60,000. Canton Hathaway LLC acquired a new position in shares of Avis Budget Group during the first quarter worth $73,000. Diligent Investors LLC acquired a new position in shares of Avis Budget Group during the fourth quarter worth $205,000. Finally, Walleye Capital LLC acquired a new position in shares of Avis Budget Group during the fourth quarter worth $210,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 515 dealer-operated and 410 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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