Avis Budget Group PT Raised to $75.00 at MKM Partners (CAR)
Analysts at MKM Partners boosted their price target on shares of Avis Budget Group (NYSE:CAR) from $55.00 to $75.00 in a research report issued to clients and investors on Monday, AR Network reports. The firm currently has a “buy” rating on the stock. MKM Partners’ target price would indicate a potential upside of 40.29% from the stock’s previous close.
CAR has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Avis Budget Group in a research note on Friday. They now have a $59.00 price target on the stock, up previously from $53.00. Separately, analysts at Deutsche Bank raised their price target on shares of Avis Budget Group from $42.00 to $53.00 in a research note on Friday. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Avis Budget Group in a research note on Thursday. They now have a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.86.
Shares of Avis Budget Group (NYSE:CAR) traded up 3.07% on Monday, hitting $53.46. The stock had a trading volume of 1,763,634 shares. Avis Budget Group has a 1-year low of $26.57 and a 1-year high of $56.25. The stock has a 50-day moving average of $51.04 and a 200-day moving average of $42.11. The company has a market cap of $5.717 billion and a price-to-earnings ratio of 87.32.
Avis Budget Group (NYSE:CAR) last released its earnings data on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.08. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Avis Budget Group will post $2.77 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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