Avis Budget Group (NASDAQ:CAR) Price Target Raised to $34.00

Avis Budget Group (NASDAQ:CAR) had its price target increased by Deutsche Bank from $24.00 to $34.00 in a report released on Thursday, The Fly reports. They currently have a buy rating on the business services provider’s stock.

CAR has been the subject of a number of other reports. Barclays raised their price target on shares of Avis Budget Group from $18.00 to $24.00 and gave the stock an equal weight rating in a report on Tuesday, July 28th. They noted that the move was a valuation call. BidaskClub downgraded Avis Budget Group from a buy rating to a hold rating in a research note on Thursday. Morgan Stanley reaffirmed a buy rating and issued a $37.00 target price on shares of Avis Budget Group in a research report on Thursday, July 16th. ValuEngine upgraded Avis Budget Group from a hold rating to a buy rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Avis Budget Group from $13.00 to $22.00 and gave the company a neutral rating in a report on Friday, June 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $28.00.

NASDAQ CAR opened at $25.90 on Thursday. The stock has a market capitalization of $1.80 billion, a P/E ratio of -5.55 and a beta of 2.30. The business has a 50 day simple moving average of $26.49 and a 200 day simple moving average of $24.44. The company has a debt-to-equity ratio of 60.25, a current ratio of 1.07 and a quick ratio of 0.85. Avis Budget Group has a one year low of $6.35 and a one year high of $52.98.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported ($5.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.84) by $0.24. The firm had revenue of $760.00 million for the quarter, compared to analysts’ expectations of $732.05 million. Avis Budget Group had a negative return on equity of 66.36% and a negative net margin of 4.15%. The company’s revenue for the quarter was down 67.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Equities analysts expect that Avis Budget Group will post -7.26 earnings per share for the current year.

In related news, Director Srs Investment Management, Llc acquired 217,074 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $18.73 per share, with a total value of $4,065,796.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.20% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Guggenheim Capital LLC boosted its stake in shares of Avis Budget Group by 5.9% in the 4th quarter. Guggenheim Capital LLC now owns 14,887 shares of the business services provider’s stock worth $480,000 after buying an additional 828 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Avis Budget Group by 3.5% in the first quarter. Mutual of America Capital Management LLC now owns 52,820 shares of the business services provider’s stock worth $734,000 after purchasing an additional 1,775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Avis Budget Group by 53.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,434 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,903 shares during the last quarter. Gradient Investments LLC grew its stake in Avis Budget Group by 299.4% in the 2nd quarter. Gradient Investments LLC now owns 2,668 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 2,000 shares during the period. Finally, Truewealth LLC purchased a new stake in shares of Avis Budget Group during the 1st quarter valued at $28,000.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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