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Research analysts at Morgan Stanley lifted their target price on shares of Avis Budget Group (NYSE:CAR) from $28.00 to $30.00 in a report released on Friday. Morgan Stanley’s price target would suggest a potential downside of 51.58% from the company’s current price.

In other Avis Budget Group news, Director Stender E. Sweeney unloaded 490 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $60.79, for a total transaction of $29,787.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Avis Budget Group (NYSE:CAR) opened at 61.96 on Friday. Avis Budget Group has a 52-week low of $26.57 and a 52-week high of $61.99. The stock has a 50-day moving average of $59.23 and a 200-day moving average of $51.81. The company has a market cap of $6.446 billion and a P/E ratio of 55.85.

Avis Budget Group (NYSE:CAR) last released its earnings results on Monday, August 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.74. The company had revenue of $2.20 million for the quarter, compared to the consensus estimate of $40.75 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Avis Budget Group will post $2.96 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Wednesday. They now have a $60.00 price target on the stock, up previously from $58.00. Separately, analysts at MKM Partners raised their price target on shares of Avis Budget Group from $75.00 to $80.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Avis Budget Group from $60.00 to $62.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.50.

Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.

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