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CAR

Avis Budget

$21.62

-0.94 (-4.17%)

04:55
06/21/17
06/21
04:55
06/21/17
04:55

Avis Budget management to meet with Northcoast

Meetings to be held in San Francisco on June 20 and in Los Angeles on June 21 hosted by Northcoast.

  • 21

    Jun

CAR Avis Budget
$21.62

-0.94 (-4.17%)

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.
06/14/17
DBAB
06/14/17
NO CHANGE
Target $45
DBAB
Buy
Avis Budget negative sentiment could be easing, says Deutsche Bank
Deutsche Bank analyst Chris Woronka attributes yesterday's rally in Avis Budget (CAR) shares to J.D. Power announcing a 270 basis point positive revision, from down 10.3% to down 7.6%, to the NADA used vehicle price index for June that it initially released late Monday. The rally implies that the "overwhelmingly" negative sentiment on Avis "could be showing signs of easing," Woronka tells investors in a research note. The analyst continues to view the Manheim used vehicle value index as the single most relevant data point for the shares. He believes July is a critical month for rental price and keeps a Buy rating on Avis with a $45 price target. Hertz (HTZ) yesterday followed shares of Avis higher.

TODAY'S FREE FLY STORIES

11:35
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General news
Treasury Option Action: a round of call buying in the belly »

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OSUR

OraSure

$15.72

0.17 (1.09%)

11:31
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  • 30

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XLF

Financial Select Sector

$24.19

0.17 (0.71%)

11:30
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SPDR Financial calls outpace puts nearly 25:1 »

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KITE

Kite Pharma

$100.43

-0.23 (-0.23%)

11:25
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  • 29

    Nov

ANY

Sphere 3D

$0.20

0.0275 (16.08%)

11:25
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Sphere 3D to host special shareholder meeting »

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  • 27

    Jun

MRK

Merck

$66.14

0.215 (0.33%)

11:20
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Periodicals
Merck confirms computer network 'compromised' by global hack »

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  • 22

    Sep

11:20
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Fed's Harker still backs another rate hike this year »

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BLK

BlackRock

$425.20

0.51 (0.12%)

11:17
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$NSD

NASDAQ Market Internals

11:17
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
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11:15
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Breaking General news story  »

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PSX

Phillips 66

$80.96

0.72 (0.90%)

, CVX

Chevron

$104.76

0.62 (0.60%)

11:11
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PSX

Phillips 66

$80.96

0.72 (0.90%)

CVX

Chevron

$104.76

0.62 (0.60%)

03/08/13
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  • 01

    Aug

11:10
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06/27
11:10
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11:10
General news
Today's U.S. reports »

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ALDR

Alder Biopharmaceuticals

$18.70

-1 (-5.08%)

11:03
06/27/17
06/27
11:03
06/27/17
11:03
Recommendations
Alder Biopharmaceuticals analyst commentary  »

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  • 27

    Jul

AA

Alcoa

$32.33

1.15 (3.69%)

11:00
06/27/17
06/27
11:00
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11:00
Options
Alcoa attracts call buying »

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11:00
06/27/17
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General news
FX Action: USD-CAD »

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Breaking General news story  »

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HCC

Warrior Met Coal

$15.88

-0.31 (-1.91%)

10:58
06/27/17
06/27
10:58
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10:58
Downgrade
Warrior Met Coal rating change  »

Follow-up: Warrior Met…

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BV

Bazaarvoice

$4.80

-0.1 (-2.04%)

10:56
06/27/17
06/27
10:56
06/27/17
10:56
Conference/Events
Bazaarvoice management to meet with Needham »

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  • 28

    Jun

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

CBI

CB&I

$16.50

2.1 (14.58%)

, TOSBF

Toshiba, also use TOSYY

$2.69

0.03 (1.13%)

10:55
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Court rules for Chicago Bridge in Westinghouse case, Reuters says »

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CBI

CB&I

$16.50

2.1 (14.58%)

TOSBF

Toshiba, also use TOSYY

$2.69

0.03 (1.13%)

TOSYY

Toshiba, also use TOSBF

$15.91

-0.065 (-0.41%)

03/08/13
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10:55
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Conference/Events
Federal Reserve Bank of Philadelphia President speaks on economic outlook »

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LTRX

Lantronix

$2.37

-0.08 (-3.27%)

10:54
06/27/17
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Conference/Events
Lantronix management to meet with Needham »

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  • 28

    Jun

ESQ

Esquire Financial

10:52
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Syndicate
Breaking Syndicate news story on Esquire Financial »

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  • 27

    Jun

INTC

Intel

$34.07

-0.12 (-0.35%)

10:50
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06/27
10:50
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10:50
Options
Notable opening interest in Intel options »

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  • 27

    Jun

DHI

D.R. Horton

$34.13

0.175 (0.52%)

, PHM

PulteGroup

$24.32

0.13 (0.54%)

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DHI

D.R. Horton

$34.13

0.175 (0.52%)

PHM

PulteGroup

$24.32

0.13 (0.54%)

MTH

Meritage Homes

$41.00

0.1 (0.24%)

KBH

KB Home

$23.04

0.255 (1.12%)

MDC

M.D.C. Holdings

$35.66

0.42 (1.19%)

TOL

Toll Brothers

$39.46

0.16 (0.41%)

03/08/13
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  • 27

    Jun

  • 25

    Jul

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