Avis Budget Group (NASDAQ:CAR – Get a Note) had its target price raised by Deutsche Bank Aktiengesellschaft from $193.00 to $238.00 in a research note published on Wednesday, reports The Fly. Deutsche Bank Aktiengesellschaft’s price target suggests a potential decline of 16.57% from the current share price.
CAR has been the subject of a number of other research reports. Morgan Stanley lowered its price target on Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating on the stock in a Wednesday, Feb. 16 research note. JPMorgan Chase & Co. lowered its price target on Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating on the stock in a Wednesday, February 16 report. Barclays upgraded Avis Budget Group from an “underweight” rating to an “equally weighted” rating and raised its share price target from $164.00 to $245.00 in a Wednesday, April 20 report . Zacks Investment Research upgraded Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a target price of $310.00 on the stock in a Tuesday, April 19 report. Finally, Bank of America downgraded Avis Budget Group from a “neutral” rating to an “underperforming” rating and lowered its share price target from $250.00 to $240.00 in a report Wednesday, April 6. Two equity research analysts gave the stock a sell rating, four assigned a hold rating and one gave the company’s stock a strong buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.83.
NASDAQ CAR shares opened at $285.28 on Wednesday. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 8.80, a growth price-to-earnings ratio of 0.61 and a beta of 2.01. Avis Budget Group has a 12 month minimum of $65.87 and a 12 month maximum of $545.11. The stock’s 50-day simple moving average is $250.06 and its 200-day simple moving average is $228.24.
Avis Budget Group (NASDAQ:CAR – Get Rating) last announced its results on Monday, May 2. The business services provider reported earnings per share of $9.99 for the quarter, beating the consensus estimate of $3.45 by $6.54. Avis Budget Group recorded a negative return on equity of 942.00% and a net margin of 13.80%. In the same quarter of the previous year, the company posted EPS of ($0.46). Equity research analysts expect Avis Budget Group to post earnings per share of 22.62 for the current year.
Separately, Director Lynn Krominga sold 5,823 Avis Budget Group shares in a trade on Thursday, March 3. The stock was sold at an average price of $187.50, for a total transaction of $1,091,812.50. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders hold 37.30% of the shares of the company.
Hedge funds and other institutional investors have recently changed their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Avis Budget Group in the fourth quarter worth approximately $33,000. Lindbrook Capital LLC increased its position in Avis Budget Group shares by 737.5% in the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider worth $35,000 after buying 118 additional shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Avis Budget Group shares by 79.5% in the first quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider worth $42,000 after buying 70 more shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Avis Budget Group in the fourth quarter worth approximately $51,000. Finally, First Quadrant LLC CA acquired a new position in shares of Avis Budget Group during Q1 worth approximately $57,000.
About Avis Budget Group (Get a rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 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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