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

Avis Budget Group (NASDAQ:CAR) had its price objective decreased by research analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $183.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 80.03% from the stock’s current price.

CAR has been the topic of a number of other reports. Bank of America started coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They set a “buy” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Susquehanna reduced their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $118.00 to $130.00 in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Avis Budget Group has an average rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group Trading Down 0.3 %

Shares of CAR opened at $101.65 on Thursday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 2.39 and a beta of 2.22. Avis Budget Group has a 1-year low of $99.60 and a 1-year high of $244.95. The company’s fifty day simple moving average is $115.87 and its 200 day simple moving average is $156.13.

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

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. raised its stake in Avis Budget Group by 70.4% during the first quarter. Nomura Holdings Inc. now owns 1,534,724 shares of the business services provider’s stock worth $298,964,000 after acquiring an additional 634,040 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Avis Budget Group during the third quarter worth about $62,892,000. Hsbc Holdings PLC raised its stake in Avis Budget Group by 1,573.0% during the third quarter. Hsbc Holdings PLC now owns 362,965 shares of the business services provider’s stock worth $64,799,000 after acquiring an additional 341,269 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Avis Budget Group by 140.2% during the first quarter. Balyasny Asset Management L.P. now owns 294,248 shares of the business services provider’s stock worth $57,320,000 after acquiring an additional 171,743 shares in the last quarter. Finally, Norges Bank acquired a new position in Avis Budget Group during the fourth quarter worth about $30,234,000. 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.