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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

FL

Foot Locker

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7.95 (24.96%)

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XRT

S&P Retail Index SPDR

$41.59

0.98 (2.41%)

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$NSD

NASDAQ Market Internals

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AMD

AMD

$11.25

0.18 (1.63%)

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AMD calls outpace puts 4:1 as shares advance »

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TSLA

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1.2 (0.39%)

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JBHT

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WMT

Wal-Mart

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$NYE

NYSE Market Internals

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MDXG

MiMedx

$11.36

-0.58 (-4.86%)

12:12
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XOP

SPDR Oil Exploration and Production Fund

$34.83

0.525 (1.53%)

12:00
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Options
Defensive short-term option play in SPDR Oil Exploration and Production ETF »

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TNK

Teekay Tankers

$1.41

0.01 (0.71%)

11:55
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Conference/Events
Teekay Tankers to host special shareholder meeting »

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  • 17

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TWX

Time Warner

$88.53

0.52 (0.59%)

, VIA

Viacom

$30.10

-0.65 (-2.11%)

11:50
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TWX

Time Warner

$88.53

0.52 (0.59%)

VIA

Viacom

$30.10

-0.65 (-2.11%)

VIAB

Viacom

$23.69

-0.92 (-3.74%)

LGF.A

Lionsgate

$32.32

1.28 (4.12%)

LGF.B

Lionsgate

$30.70

1.17 (3.96%)

DIS

Disney

$103.61

0.01 (0.01%)

FOX

21st Century Fox

$28.60

0.65 (2.33%)

FOXA

21st Century Fox

$29.32

0.59 (2.05%)

CMCSA

Comcast

$37.07

-0.11 (-0.30%)

CMCSK

Comcast

SNE

Sony

$46.20

0.1 (0.22%)

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ANF

Abercrombie & Fitch

$15.49

2.9398 (23.42%)

11:50
11/17/17
11/17
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Recommendations
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  • 17

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HFWA

Heritage Financial

$30.60

0.3 (0.99%)

11:48
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EEM

MSCI Emerging Markets Index

$46.81

0.215 (0.46%)

11:40
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Options
108K iShares Emerging Markets Fund Dec 44.5 puts bought for 22c »

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11:35
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General news
Euro$ interest rate futures recovered from lows »

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ANF

Abercrombie & Fitch

$16.00

3.45 (27.49%)

11:31
11/17/17
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  • 17

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M

Macy's

$20.63

0.38 (1.88%)

11:30
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Options
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ANF

Abercrombie & Fitch

$15.94

3.39 (27.01%)

11:28
11/17/17
11/17
11:28
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11:28
Downgrade
Abercrombie & Fitch rating change  »

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  • 17

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AAPL

Apple

$171.10

2.02 (1.19%)

11:24
11/17/17
11/17
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11:24
Periodicals
Apple delays release of HomePod to early 2018, TechCrunch reports »

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V

Visa

$110.15

-0.87 (-0.78%)

, MA

MasterCard

$148.53

-1.7995 (-1.20%)

11:23
11/17/17
11/17
11:23
11/17/17
11:23
Recommendations
Visa, MasterCard analyst commentary  »

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V

Visa

$110.15

-0.87 (-0.78%)

MA

MasterCard

$148.53

-1.7995 (-1.20%)

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  • 27

    Nov

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GLD

SPDR Gold Trust

$122.32

0.92 (0.76%)

11:20
11/17/17
11/17
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Options
Far downside put buyers in SPDR Gold ETF as the metal trades higher »

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$NSD

NASDAQ Market Internals

11:17
11/17/17
11/17
11:17
11/17/17
11:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

11:16
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11/17
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NYSE market internals summary »

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TSLA

Tesla

$312.50

1.2 (0.39%)

, WMT

Wal-Mart

$97.67

-1.952 (-1.96%)

11:05
11/17/17
11/17
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Periodicals
Wal-Mart to test new Tesla electric trucks, CNBC reports »

Following Tesla's…

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Tesla

$312.50

1.2 (0.39%)

WMT

Wal-Mart

$97.67

-1.952 (-1.96%)

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