Barclays lowers Avis Budget Group (NASDAQ:CAR) price target to $158.00
Avis Budget Group (NASDAQ:CAR – Get a Note) saw its target price lowered by Barclays from $223.00 to $158.00 in a report on Tuesday, reports The Fly. The brokerage currently has an equal weight rating on shares of the business services provider.
Several other research companies also commented on the CAR. Morgan Stanley lowered its price target on Avis Budget Group shares from $168.00 to $156.00 and set an underweight rating for the company in a Tuesday, June 7 research note. Bank of America downgraded shares of Avis Budget Group from a neutral rating to an underperforming rating and lowered its price target for the stock from $250.00 to $240.00 in a research report Wednesday, April 6. Deutsche Bank Aktiengesellschaft raised its price target on Avis Budget Group shares from $193.00 to $238.00 in a Wednesday, May 4 research report. Finally, StockNews.com upgraded shares of Avis Budget Group from a hold rating to a buy rating in a Tuesday, June 28 report. Two equity research analysts rated the stock with a sell rating and four gave the stock a hold rating. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $196.40.
CAR opened at $155.50 on Tuesday. The company has a market capitalization of $7.51 billion, a price-earnings ratio of 4.80, a PEG ratio of 0.20 and a beta of 2.11. Avis Budget Group has a 52-week minimum of $65.87 and a 52-week maximum of $545.11. The company’s fifty-day simple moving average is $195.04 and its two-hundred-day simple moving average is $209.43.
Avis Budget Group (NASDAQ:CAR – Get Rating) last released its quarterly earnings data on Monday, May 2. The business services provider reported earnings per share (EPS) of $9.99 for the quarter, beating the consensus estimate of $3.54 by $6.45. Avis Budget Group achieved a net margin of 19.13% and a negative return on equity of 635.44%. The company posted revenue of $2.43 billion in the quarter, versus $2.18 billion expected by analysts. During the same period last year, the company made earnings per share ($0.46). As a group, sell-side analysts expect Avis Budget Group to post earnings per share of 39.29 for the current fiscal year.
In other Avis Budget Group news, Chairman Bernardo Hees purchased 28,334 shares of the company in a transaction that took place on Tuesday, May 24. The shares were purchased at an average price of $172.78 per share, with a total value of $4,895,548.52. Following the transaction, the president now owns 450,476 shares of the company, valued at $77,833,243.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the past ninety days, insiders have purchased 83,734 shares of the company valued at $14,792,435. Company insiders own 37.30% of the company’s shares.
Institutional investors have recently increased or reduced their stake in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Avis Budget Group during the fourth quarter worth $33,000. Lindbrook Capital LLC increased its stake in Avis Budget Group by 737.5% in the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider valued at $35,000 after buying 118 additional shares in the last quarter. TCI Wealth Advisors Inc. increased its equity stake in Avis Budget Group by 79.5% during the first quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider valued at $42,000 after buying an additional 70 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of Avis Budget Group during the first quarter worth $46,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Avis Budget Group during the fourth quarter at a value of $51,000.
Avis Budget Group Company Profile (Get an assessment)
Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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