Avis Budget Group (NASDAQ:CAR) Price Target Lowered to $140.00 at Bank of America

Avis Budget Group (NASDAQ:CAR - Get Free Report) had its target price dropped by analysts at Bank of America from $170.00 to $140.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Bank of America's price target would suggest a potential upside of 47.76% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Avis Budget Group from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. Morgan Stanley dropped their price objective on Avis Budget Group from $190.00 to $187.00 and set an "overweight" rating for the company in a report on Wednesday, April 10th. Northcoast Research upgraded shares of Avis Budget Group from a "neutral" rating to a "buy" rating and set a $155.00 price objective on the stock in a research note on Monday, March 25th. JPMorgan Chase & Co. dropped 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 research report on Wednesday, February 14th. Finally, Susquehanna decreased their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a "neutral" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group has an average rating of "Moderate Buy" and an average price target of $164.57.

Avis Budget Group Trading Down 0.7 %

Shares of NASDAQ:CAR traded down $0.70 during trading on Wednesday, reaching $94.75. 915,137 shares of the stock were exchanged, compared to its average volume of 831,230. The firm has a market cap of $3.38 billion, a PE ratio of 2.23 and a beta of 2.22. Avis Budget Group has a 12 month low of $93.53 and a 12 month high of $244.95. The stock has a 50-day moving average price of $111.27 and a 200-day moving average price of $151.61.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing analysts' consensus estimates of ($2.65) by ($0.56). The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $7.72 earnings per share. On average, sell-side analysts expect that Avis Budget Group will post 14.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors have recently added to or reduced their stakes in the business. Denali Advisors LLC increased its position 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 purchasing an additional 112 shares during the period. Huntington National Bank increased its position in shares of Avis Budget Group by 101.0% during the third quarter. Huntington National Bank now owns 209 shares of the business services provider's stock worth $38,000 after buying an additional 105 shares during the period. TFO Wealth Partners LLC lifted its holdings in Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider's stock valued at $55,000 after buying an additional 311 shares during the period. Headlands Technologies LLC bought a new stake in Avis Budget Group during the fourth quarter valued at $79,000. Finally, CWM LLC grew its holdings in Avis Budget Group by 248.2% during the 3rd quarter. CWM LLC now owns 491 shares of the business services provider's stock worth $88,000 after acquiring an additional 350 shares during the period. 96.35% of the stock is owned by institutional investors.

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.