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CAR

Avis Budget

$21.60

-0.11 (-0.51%)

14:02
06/12/17
06/12
14:02
06/12/17
14:02

Avis Budget partners with RocketSpace to accelerate mobility innovation

Avis Budget Group announced it has teamed with RocketSpace, a technology campus for start-ups and corporate innovators, to "identify market opportunities and fuel cross-industry innovation." The company commented, "Avis Budget Group joins a diverse group of global businesses across the mobility value chain... who will collaborate with start-ups on real-life product testing and go-to-market solutions. Innovation areas include automated driver assisted systems, on-board vehicle diagnostics and electric vehicle systems." RocketSpace remarked, "As our fleet management industry partner, we're very optimistic that innovative solutions piloted in the program will be implemented and scaled through Avis Budget Group's network of vehicles."

CAR Avis Budget
$21.60

-0.11 (-0.51%)

02/17/17
02/17/17
DOWNGRADE
Target $15

Underperform
Hertz downgraded to Underperform at Credit Suisse
As previously reported, Credit Suisse analyst Anjaneya Singh downgraded Hertz (HTZ) to Underperform from Neutral following a Q4 update from its peer Avis Budget (CAR). The analyst believes the latter's update presents a negative read-through for Hertz's Q4 and 2017 guide. In an environment that presents weak volume growth, flattish pricing, and inflationary fleet costs, Singh sees Hertz struggling to generate profit growth reflected in consensus estimates. He also lowered his price target on Hertz's shares to $15 from $27.
02/17/17
02/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hertz (HTZ) downgraded to Underperform from Neutral at Credit Suisse by analyst Anjaneya Singh as the analyst believes peer Avis Budget's (CAR) update presents a negative read-through for Hertz's Q4 and 2017 guidance. In an environment that presents weak volume growth, flattish pricing, and inflationary fleet costs, Singh sees Hertz struggling to generate profit growth reflected in consensus estimates. The firm also downgraded Avis Budget to Neutral from Outperform following the company's Q4 results. 2. Charter (CHTR) downgraded to Market Perform after recent rally at Telsey Advisory by analyst Tom Eagan, who has "no doubt" that the company will improve the service metrics at the legacy TWC and Bright House systems, but notes that shares have gained more than 54% since January 2016, with part of the rise fueled by speculation that Verizon (VZ) was interested in an acquisition. While unclear what Verizon's real interest is, "the possibility of a transaction is not grounds" for a multiple on Charter shares that would yield a target in the mid-$370's, Eagen tells investors. 3. Kate Spade (KATE) downgraded to Underperform from Outperform at CLSA by analyst Rick Patel, who benchmarks Kate with Tumi, which was acquired by Samsonite for 13.6x LTM EBITDA. He adds that he views the abbreviated conference call and lack of Q&A as signs the company is "actively in negotiations." 4. Advisory Board (ABCO) downgraded to Neutral from Overweight at JPMorgan by analyst Stephanie Davis, who sees the shares as fairly valued for the potential strategic alternative outcomes. The analyst sees three potential outcomes: a margin-focused restructuring, a sale to a strategic acquirer of all or part of the company, and a sale to a financial sponsor. Her analysis yields a share price range of $47-$59 for the three scenarios. 5. Hain Celestial (HAIN) downgraded to Hold from Buy at Argus by analyst John Staszak, who says that, at a minimum, Hain will have to restate its financials. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/17
MSCN
03/22/17
NO CHANGE
MSCN
MScience expects lower pricing and volumes for Hertz
MScience analyst Michael Erstad analysis indicates Hertz's (HTZ) Q1 revenues are trending at $1.935B versus consensus of $1.975B. The analyst said Enterprise captured greater share at the expense of Hertz and Avis Budget (CAR) in January but Enterprise and Hertz took share from Avis in February.
05/05/17
FBCO
05/05/17
NO CHANGE
Target $27
FBCO
Neutral
Avis Budget price target lowered to $27 from $38 at Credit Suisse
Credit Suisse analyst Credit Suisse lowered his price target for Avis Budget to $27 from $38 as the company's Q1 results came in worse than expectations that had been trending lower intra-quarter. The analyst reiterates a Neutral rating on the shares.

TODAY'S FREE FLY STORIES

ENRJ

EnerJex Resources

$0.28

-0.025 (-8.20%)

11:53
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11:53
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C

Citi

$66.08

-0.5015 (-0.75%)

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Sizable call write in Citi »

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JPM

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$90.56

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JPM

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$90.56

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AAPL

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FOX

21st Century Fox

$26.79

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FOXA

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$27.26

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SNA

Snap-On

$142.41

-5.55 (-3.75%)

11:41
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Technical View: Snap-On falls to session lows, analyst action »

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TV

Grupo Televisa

$25.75

0.31 (1.22%)

11:40
08/21/17
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Options
Put seller opens a large position in Grupo Televisa »

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11:40
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General news
Fed's inaugural SCE Labor Market Survey surprisingly dour: »

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CYH

Community Health

$7.63

0.595 (8.46%)

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ASL Strategic Value Fund calls on Community Health board to replace CEO »

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Hot Stocks
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BRK.A

Berkshire Hathaway

$267,800.00

423 (0.16%)

, BRK.B

Berkshire Hathaway

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0.3 (0.17%)

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Berkshire Hathaway Energy agreement to acquire Oncor terminated by EFH »

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BRK.A

Berkshire Hathaway

$267,800.00

423 (0.16%)

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Berkshire Hathaway

$177.86

0.3 (0.17%)

03/08/13
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F

Ford

$10.62

0.06 (0.57%)

, AAPL

Apple

$157.50

-0.36 (-0.23%)

11:36
08/21/17
08/21
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Periodicals
Ford CTO: Autonomous vehicles need more than just software, Axios reports »

Ford (F) CTO Ken…

F

Ford

$10.62

0.06 (0.57%)

AAPL

Apple

$157.50

-0.36 (-0.23%)

GOOG

Alphabet

$910.67

-0.31 (-0.03%)

GOOGL

Alphabet Class A

$926.18

-1.48 (-0.16%)

03/08/13
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PNW

Pinnacle West

$89.26

-0.03 (-0.03%)

11:35
08/21/17
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Hot Stocks
Pinnacle West says Commissioner Burns files petition to vacate ACC's order »

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11:34
08/21/17
08/21
11:34
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11:34
General news
3-Month Bill Auction Total Amount data reported »

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General news
6-Month Bill Auction Total Amount data reported »

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MCD

McDonald's

$158.46

0.7 (0.44%)

11:31
08/21/17
08/21
11:31
08/21/17
11:31
Periodicals
McDonald's to close 169 outlets in northern, eastern India, Reuters reports »

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AEO

American Eagle

$10.40

-0.715 (-6.44%)

11:30
08/21/17
08/21
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11:30
Options
American Eagle puts active as shares touch 52-week lows »

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PNW

Pinnacle West

$89.00

-0.2899 (-0.32%)

11:29
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08/21
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11:29
Earnings
Breaking Earnings news story on Pinnacle West »

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IYR

DJ US Real Estate Index Fund

$79.79

0.61 (0.77%)

, XLV

Health Care Select Sector SPDR

$78.27

0.27 (0.35%)

11:25
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Technical Analysis
S&P 500 trades near top of range for the day as mid-session approaches »

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IYR

DJ US Real Estate Index Fund

$79.79

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XLV

Health Care Select Sector SPDR

$78.27

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XLP

Consumer Staples Sector SPDR

$55.35

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XLB

S&P Select Materials SPDR

$53.82

0.105 (0.20%)

XLU

Utilities SPDR

$54.56

0.06 (0.11%)

XLE

Energy Select Sector SPDR

$62.05

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XLF

Financial Select Sector

$24.49

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XLK

Technology Select Sector SPDR

$56.83

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SPY

SPDR S&P 500 ETF Trust

$242.46

-0.25 (-0.10%)

SPX

S&P 500

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AXDX

Accelerate Diagnostics

$21.70

-1.85 (-7.86%)

11:22
08/21/17
08/21
11:22
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11:22
Recommendations
Accelerate Diagnostics analyst commentary  »

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ETE

Energy Transfer Equity

$16.54

-0.135 (-0.81%)

11:20
08/21/17
08/21
11:20
08/21/17
11:20
Options
Short-term call buyer in Energy Transfer Equity »

Short-term call buyer in…

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$NSD

NASDAQ Market Internals

11:17
08/21/17
08/21
11:17
08/21/17
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
08/21/17
08/21
11:16
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11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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11:15
08/21/17
08/21
11:15
08/21/17
11:15
General news
Treasury announced a $30 B 4-week bill sale for Tuesday »

Treasury announced a $30…

11:15
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08/21
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11:15
General news
Breaking General news story  »

3-Month Bill Auction to…

11:15
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08/21
11:15
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11:15
General news
Breaking General news story  »

6-Month Bill Auction to…

PAYX

Paychex

$54.99

0.01 (0.02%)

11:11
08/21/17
08/21
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11:11
Hot Stocks
Paychex acquires HR Outsourcing Holdings; terms not disclosed »

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