Avis Budget Group's (CAR) Neutral Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reiterated its "neutral" rating for Avis Budget Group, setting a price target of $155, indicating a potential downside of 10.12% from the stock's previous close.
• While six analysts recommend holding the stock, Deutsche Bank upgraded Avis Budget Group to a "buy" with a price target increase to $196 from $130.
• Avis Budget Group reported a loss of $1.92 per share last quarter, significantly missing analyst estimates, and had a revenue decline of 0.3% year-over-year.

Avis Budget Group (NASDAQ:CAR - Get Free Report)'s stock had its "neutral" rating reaffirmed by JPMorgan Chase & Co. in a report issued on Thursday, Marketbeat reports. They presently have a $155.00 target price on the business services provider's stock. JPMorgan Chase & Co.'s price target points to a potential downside of 10.12% from the stock's previous close.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group cut their price target on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wall Street Zen raised Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $196.00 price target (up previously from $130.00) on shares of Avis Budget Group in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $127.60.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $172.46 on Thursday. The stock has a market cap of $6.07 billion, a PE ratio of -2.73 and a beta of 2.19. The business has a fifty day moving average of $158.28 and a two-hundred day moving average of $109.24. Avis Budget Group has a 52-week low of $54.03 and a 52-week high of $212.81.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($1.92). The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.02 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 19.06%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts predict that Avis Budget Group will post 8.91 earnings per share for the current year.

Hedge Funds Weigh In On Avis Budget Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in Avis Budget Group by 32.6% in the 2nd quarter. Fifth Third Bancorp now owns 228 shares of the business services provider's stock worth $39,000 after acquiring an additional 56 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Avis Budget Group by 2.1% in the 1st quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider's stock worth $579,000 after buying an additional 160 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Avis Budget Group by 41.0% in the 4th quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after buying an additional 198 shares during the last quarter. Xponance Inc. boosted its holdings in Avis Budget Group by 7.8% in the 1st quarter. Xponance Inc. now owns 2,922 shares of the business services provider's stock worth $222,000 after buying an additional 211 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Avis Budget Group by 41.3% during the 4th quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock worth $59,000 after purchasing an additional 215 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.

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