Avis Budget Group, Inc. (CAR) Earns “Buy” Rating from Deutsche Bank AG

Deutsche Bank AG reaffirmed their buy rating on shares of Avis Budget Group, Inc. (NASDAQ:CAR) in a research note issued to investors on Wednesday. The firm currently has a $45.00 target price on the business services provider’s stock.

A number of other research firms have also recently issued reports on CAR. Zacks Investment Research cut Avis Budget Group from a hold rating to a sell rating in a research report on Tuesday, February 14th. Credit Suisse Group cut Avis Budget Group from an outperform rating to a neutral rating and set a $38.00 price objective for the company. in a research report on Friday, February 17th. Barclays PLC set a $36.00 price objective on Avis Budget Group and gave the company a hold rating in a research report on Saturday, February 18th. TheStreet cut Avis Budget Group from a b- rating to a c rating in a research report on Thursday, February 16th. Finally, Morgan Stanley reduced their price objective on Avis Budget Group from $23.00 to $19.00 and set an underweight rating for the company in a research report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $36.89.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Avis Budget Group (CAR) opened at 22.56 on Wednesday. The company’s 50-day moving average price is $24.21 and its 200 day moving average price is $31.76. The stock has a market capitalization of $1.90 billion, a P/E ratio of 19.09 and a beta of 2.46. Avis Budget Group has a 52-week low of $20.71 and a 52-week high of $41.53.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, May 3rd. The business services provider reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.43. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. Avis Budget Group had a net margin of 1.24% and a return on equity of 74.55%. Avis Budget Group’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.28) EPS. On average, equities research analysts anticipate that Avis Budget Group will post $2.94 earnings per share for the current year.

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In other Avis Budget Group news, Director John D. Jr. Hardy sold 992 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.20, for a total value of $26,982.40. Following the completion of the sale, the director now owns 992 shares of the company’s stock, valued at $26,982.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in CAR. Glenview Capital Management LLC bought a new stake in shares of Avis Budget Group during the fourth quarter worth $304,371,000. BlackRock Inc. boosted its stake in shares of Avis Budget Group by 13,924.6% in the first quarter. BlackRock Inc. now owns 7,540,051 shares of the business services provider’s stock worth $223,034,000 after buying an additional 7,486,288 shares in the last quarter. Norges Bank bought a new stake in shares of Avis Budget Group during the fourth quarter worth $43,812,000. Vanguard Group Inc. boosted its stake in shares of Avis Budget Group by 16.5% in the first quarter. Vanguard Group Inc. now owns 7,340,105 shares of the business services provider’s stock worth $217,121,000 after buying an additional 1,037,148 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Avis Budget Group by 17,945.7% in the first quarter. Bank of Montreal Can now owns 1,022,833 shares of the business services provider’s stock worth $30,256,000 after buying an additional 1,017,165 shares in the last quarter.

About Avis Budget Group

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CAR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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