Avis Budget Group (NASDAQ:CAR) Given New $117.00 Price Target at Susquehanna

Avis Budget Group (NASDAQ:CAR) had its price objective lowered by equities research analysts at Susquehanna from $145.00 to $117.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Susquehanna’s price target suggests a potential upside of 12.98% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut 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 research note on Wednesday, February 14th. Morgan Stanley dropped their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Bank of America assumed coverage on shares of Avis Budget Group in a research report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price target on the stock. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.86.

Avis Budget Group Stock Up 2.8 %

Shares of NASDAQ CAR opened at $103.56 on Tuesday. Avis Budget Group has a fifty-two week low of $93.53 and a fifty-two week high of $244.95. The firm’s 50-day simple moving average is $111.49 and its 200 day simple moving average is $152.16. The stock has a market cap of $3.69 billion, a P/E ratio of 2.43 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the business earned $10.46 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Avis Budget Group will post 14.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its stake in shares of Avis Budget Group by 248.2% in the 3rd quarter. CWM LLC now owns 491 shares of the business services provider’s stock valued at $88,000 after buying an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avis Budget Group by 10.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,704 shares of the business services provider’s stock valued at $1,025,000 after buying an additional 531 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of Avis Budget Group in the 3rd quarter valued at approximately $2,695,000. ING Groep NV bought a new stake in shares of Avis Budget Group in the 3rd quarter valued at approximately $16,172,000. Finally, K.J. Harrison & Partners Inc grew its stake in shares of Avis Budget Group by 37.5% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 11,000 shares of the business services provider’s stock valued at $1,977,000 after buying an additional 3,000 shares in 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.