Avis Budget Group (NASDAQ:CAR) Price Target Cut to $143.00 by Analysts at Deutsche Bank Aktiengesellschaft

Avis Budget Group (NASDAQ:CAR) had its price target decreased by Deutsche Bank Aktiengesellschaft from $145.00 to $143.00 in a report issued on Tuesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the business services provider’s stock.

A number of other equities research analysts also recently issued reports on CAR. Barclays initiated coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price for the company. The Goldman Sachs Group dropped their price objective on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. reduced their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Susquehanna cut their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.13.

Avis Budget Group Stock Performance

Shares of CAR opened at $92.95 on Tuesday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 8.49 and a beta of 2.14. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $204.77. The company’s 50 day simple moving average is $82.82 and its 200 day simple moving average is $96.37.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data 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). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the firm earned $16.78 EPS. Avis Budget Group’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Avis Budget Group will post 6.66 EPS for the current fiscal year.

Institutional Trading of Avis Budget Group

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after purchasing an additional 478,552 shares during the last quarter. Rubric Capital Management LP boosted its stake in shares of Avis Budget Group by 220.9% during the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after buying an additional 475,181 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Avis Budget Group during the second quarter worth approximately $19,978,000. Toronto Dominion Bank acquired a new position in Avis Budget Group in the second quarter worth about $10,452,000. Finally, Natixis increased its holdings in shares of Avis Budget Group by 1,339.3% in the 1st quarter. Natixis now owns 101,242 shares of the business services provider’s stock valued at $12,398,000 after acquiring an additional 94,208 shares during the last quarter. Hedge funds and other 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.