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

Avis Budget Group (NASDAQ:CAR) had its price objective reduced by research analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $183.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 79.85% from the stock’s current price.

CAR has been the subject of a number of other reports. Bank of America initiated coverage on Avis Budget Group in a research note on Tuesday, March 19th. They set a “buy” rating and a $170.00 price objective for the company. Morgan Stanley lowered 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. Susquehanna reduced their price target 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. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, March 25th. Finally, The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock 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 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 3.4 %

CAR traded down $3.60 during trading on Thursday, reaching $101.75. 336,117 shares of the company were exchanged, compared to its average volume of 821,467. The stock has a market cap of $3.63 billion, a P/E ratio of 2.40 and a beta of 2.22. The firm has a 50 day moving average of $117.15 and a 200 day moving average of $156.51. Avis Budget Group has a 52 week low of $99.60 and a 52 week high of $244.95.

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

Institutional Trading of Avis Budget Group

Institutional investors have recently modified their holdings of the company. Huntington National Bank lifted its holdings in shares of Avis Budget Group by 101.0% in the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after buying an additional 105 shares during the period. TFO Wealth Partners LLC lifted its holdings in shares of Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after buying an additional 311 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Avis Budget Group during the first quarter valued at $70,000. KBC Group NV purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at $75,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at $79,000. Institutional investors and hedge funds 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.