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

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

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an overweight rating for the company in a report on Wednesday, February 14th. Morgan Stanley dropped their price target 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 dropped their price target 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. 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 note on Monday, March 25th. Finally, StockNews.com upgraded Avis Budget Group from a sell rating to a hold rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Avis Budget Group currently has an average rating of Moderate Buy and a consensus target price of $172.86.

Avis Budget Group Trading Down 0.3 %

Avis Budget Group stock opened at $101.65 on Thursday. The firm has a 50 day moving average of $114.52 and a 200 day moving average of $155.53. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 2.39 and a beta of 2.22. Avis Budget Group has a 12-month low of $99.60 and a 12-month high of $244.95.

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

Institutional Trading of Avis Budget Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Denali Advisors LLC raised its holdings in Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after buying an additional 112 shares during the period. Oxinas Partners Wealth Management LLC raised its holdings in Avis Budget Group by 204.3% during the 1st quarter. Oxinas Partners Wealth Management LLC now owns 6,390 shares of the business services provider’s stock valued at $783,000 after buying an additional 4,290 shares during the period. State of Michigan Retirement System raised its holdings in Avis Budget Group by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock valued at $560,000 after buying an additional 100 shares during the period. Alaska Permanent Fund Corp raised its holdings in Avis Budget Group by 38.3% during the 1st quarter. Alaska Permanent Fund Corp now owns 17,083 shares of the business services provider’s stock valued at $2,092,000 after buying an additional 4,730 shares during the period. Finally, Leo Wealth LLC purchased a new stake in Avis Budget Group during the 4th quarter valued at $201,000. 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.