Avis Budget Group Given New $32.00 Price Target at Barclays (CAR)
Research analysts at Barclays lifted their price target on shares of Avis Budget Group (NYSE:CAR) from $29.00 to $32.00 in a report released on Tuesday, ARN reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target suggests a potential upside of 8.11% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Avis Budget Group in a research note to investors on Wednesday, October 9th. They set an “overweight” rating on the stock. Separately, analysts at TheStreet downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research note to investors on Thursday, October 3rd. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. They now have a $30.00 price target on the stock, down previously from $33.00. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.00.
Avis Budget Group (NYSE:CAR) traded down 0.50% on Tuesday, hitting $29.60. 1,474,523 shares of the company’s stock traded hands. Avis Budget Group has a 52 week low of $15.10 and a 52 week high of $34.21. The stock has a 50-day moving average of $29.07 and a 200-day moving average of $29.39. The company has a market cap of $3.199 billion and a P/E ratio of 20.98.
Avis Budget Group (NYSE:CAR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Avis Budget Group will post $2.19 EPS for the current fiscal year.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
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