Avis Budget Group, Inc. (NASDAQ:CAR – Get Free Report) shares fell 5% during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $202.00 to $183.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Avis Budget Group traded as low as $100.13 and last traded at $100.13. 410,234 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 822,222 shares. The stock had previously closed at $105.35.
Several other brokerages have also issued reports on CAR. Morgan Stanley cut their target price 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. Northcoast Research raised Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, March 25th. Bank of America began 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, 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 note on Thursday, April 4th. Three equities 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, Avis Budget Group currently has an average rating of “Moderate Buy” and an average price target of $172.86.
Read Our Latest Stock Report on CAR
Institutional Trading of Avis Budget Group
Avis Budget Group Stock Down 0.3 %
The company has a market cap of $3.62 billion, a P/E ratio of 2.39 and a beta of 2.22. The business has a fifty day moving average of $115.87 and a 200 day moving average of $156.13.
Avis Budget Group (NASDAQ:CAR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (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 business 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 company earned $10.46 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Avis Budget Group, Inc. will post 15.35 EPS for the current fiscal year.
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.
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