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

Avis Budget Group (NASDAQ:CAR) had its target price cut by Susquehanna from $145.00 to $117.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Northcoast Research upgraded shares of Avis Budget Group from a neutral rating to a buy rating and set a $155.00 target price on the stock in a research report on Monday, March 25th. Bank of America assumed coverage on Avis Budget Group in a report on Tuesday, March 19th. They set a buy rating and a $170.00 price objective on the stock. Morgan Stanley lowered their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. 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 report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a buy rating on the stock in a research note on Thursday, April 18th. 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.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $168.86.

Avis Budget Group Trading Down 7.8 %

NASDAQ:CAR opened at $95.45 on Tuesday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 2.24 and a beta of 2.22. Avis Budget Group has a 1 year low of $93.53 and a 1 year high of $244.95. The firm has a 50 day moving average of $111.27 and a 200-day moving average of $151.61.

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, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $10.46 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts forecast that Avis Budget Group will post 14.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Denali Advisors LLC raised its holdings in shares of Avis Budget Group by 94.1% in the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the last quarter. Huntington National Bank increased its stake in Avis Budget Group by 101.0% in the 3rd 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 last quarter. TFO Wealth Partners LLC lifted its position in Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new stake in Avis Budget Group during the 4th quarter worth about $79,000. Finally, CWM LLC boosted its stake in shares of Avis Budget Group by 248.2% during the 3rd quarter. CWM LLC now owns 491 shares of the business services provider’s stock worth $88,000 after buying an additional 350 shares during the last quarter. 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.