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

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

Other research analysts also recently issued reports about the company. Morgan Stanley reduced their price objective on Avis Budget Group from $190.00 to $187.00 and set an overweight rating for the company in a research note on Wednesday, April 10th. StockNews.com raised Avis Budget Group from a sell rating to a hold rating in a research note on Monday, February 12th. Bank of America started coverage on Avis Budget Group in a research note on Tuesday, March 19th. They issued a buy rating and a $170.00 target price for the company. Susquehanna cut their target price on Avis Budget Group from $195.00 to $145.00 and set a neutral rating for the company in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on Avis Budget Group from $280.00 to $240.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Avis Budget Group has a consensus rating of Moderate Buy and an average target price of $172.86.

Avis Budget Group Price Performance

Shares of CAR stock opened at $102.00 on Thursday. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 2.39 and a beta of 2.22. The stock has a 50 day simple moving average of $117.15 and a 200-day simple moving average of $156.51. Avis Budget Group has a 1-year low of $99.60 and a 1-year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company earned $10.46 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Analysts anticipate that Avis Budget Group will post 15.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

A number of hedge funds have recently modified their holdings of CAR. UBS Group AG boosted its holdings in Avis Budget Group by 33.3% during the 3rd quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock valued at $13,060,000 after acquiring an additional 18,167 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Avis Budget Group by 165.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 15,943 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Avis Budget Group by 274.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock worth $1,528,000 after acquiring an additional 6,234 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Avis Budget Group during the 4th quarter worth about $12,317,000. Finally, AQR Capital Management LLC raised its position in shares of Avis Budget Group by 26.2% during the 3rd quarter. AQR Capital Management LLC now owns 39,080 shares of the business services provider’s stock worth $7,022,000 after acquiring an additional 8,115 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.