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

Avis Budget Group (NASDAQ:CAR) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $202.00 to $183.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

CAR has been the subject of several other research reports. Susquehanna decreased their target price on 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. Bank of America started coverage on Avis Budget Group in a research report on Tuesday, March 19th. They issued a buy rating and a $170.00 target price for the company. The Goldman Sachs Group raised Avis Budget Group from a sell rating to a neutral rating and upped their target price for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. JPMorgan Chase & Co. reduced their price target on Avis Budget Group from $280.00 to $240.00 and set an overweight rating for the company in a report on Wednesday, February 14th. Finally, Northcoast Research raised Avis Budget Group from a neutral rating to a buy rating and set a $155.00 price target for the company in a report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $172.86.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $102.00 on Thursday. Avis Budget Group has a 12 month low of $99.60 and a 12 month high of $244.95. The business has a 50-day moving average of $117.15 and a two-hundred day moving average of $156.51. The firm has a market capitalization of $3.64 billion, a PE ratio of 2.39 and a beta of 2.22.

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 the consensus estimate of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the business earned $10.46 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, research analysts anticipate that Avis Budget Group will post 15.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CAR. Nomura Holdings Inc. lifted its holdings in Avis Budget Group by 70.4% during the 1st quarter. Nomura Holdings Inc. now owns 1,534,724 shares of the business services provider’s stock worth $298,964,000 after buying an additional 634,040 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Avis Budget Group during the 3rd quarter worth approximately $62,892,000. Hsbc Holdings PLC raised its position in shares of Avis Budget Group by 1,573.0% during the 3rd quarter. Hsbc Holdings PLC now owns 362,965 shares of the business services provider’s stock worth $64,799,000 after purchasing an additional 341,269 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Avis Budget Group by 140.2% during the 1st quarter. Balyasny Asset Management L.P. now owns 294,248 shares of the business services provider’s stock worth $57,320,000 after purchasing an additional 171,743 shares during the period. Finally, Norges Bank acquired a new stake in shares of Avis Budget Group during the 4th quarter worth approximately $30,234,000. 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.