Deutsche Bank Aktiengesellschaft Cuts Avis Budget Group (NASDAQ:CAR) Price Target to $183.00

Avis Budget Group (NASDAQ:CAR) had its price target reduced by research analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $183.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 79.85% from the company’s current price.

Other analysts have also issued reports about the company. Morgan Stanley dropped their target price on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Bank of America assumed coverage on Avis Budget Group in a report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price objective on the stock. Susquehanna dropped their price objective on Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $118.00 to $130.00 in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Avis Budget Group has an average rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group Stock Performance

Avis Budget Group stock traded down $3.60 during midday trading on Thursday, hitting $101.75. 336,117 shares of the company were exchanged, compared to its average volume of 821,467. The firm has a market capitalization of $3.63 billion, a PE ratio of 2.40 and a beta of 2.22. Avis Budget Group has a fifty-two week low of $99.60 and a fifty-two week high of $244.95. The business has a fifty day simple moving average of $117.15 and a two-hundred day simple moving average of $156.51.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping the consensus estimate of $4.15 by $2.95. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. Avis Budget Group’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $10.46 earnings per share. As a group, equities analysts expect that Avis Budget Group will post 15.35 earnings per share for the current year.

Hedge Funds Weigh In On Avis Budget Group

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its position in Avis Budget Group by 101.0% during the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after buying an additional 105 shares in the last quarter. TFO Wealth Partners LLC grew its stake in Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after purchasing an additional 311 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Avis Budget Group during the 1st quarter worth $70,000. KBC Group NV acquired a new position in Avis Budget Group during the 4th quarter worth $75,000. Finally, Headlands Technologies LLC acquired a new position in Avis Budget Group during the 4th quarter worth $79,000. 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.