Avis Budget Group (NASDAQ:CAR) Raised to “Hold” at StockNews.com

Avis Budget Group (NASDAQ:CAR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Barclays began coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. Susquehanna cut their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group decreased their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Avis Budget Group currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Avis Budget Group Stock Down 1.9 %

CAR opened at $88.51 on Monday. The company has a market cap of $3.16 billion, a PE ratio of 8.08 and a beta of 2.14. Avis Budget Group has a twelve month low of $65.73 and a twelve month high of $204.77. The company has a 50-day moving average price of $82.05 and a 200 day moving average price of $96.44.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 89.12%. Avis Budget Group’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $16.78 EPS. As a group, sell-side analysts expect that Avis Budget Group will post 6.66 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chase Investment Counsel Corp raised its stake in shares of Avis Budget Group by 25.0% in the 3rd quarter. Chase Investment Counsel Corp now owns 15,000 shares of the business services provider’s stock valued at $1,313,000 after acquiring an additional 3,000 shares during the period. Victory Capital Management Inc. raised its position in Avis Budget Group by 23.2% in the third quarter. Victory Capital Management Inc. now owns 12,078 shares of the business services provider’s stock valued at $1,058,000 after purchasing an additional 2,276 shares during the period. Versor Investments LP acquired a new position in Avis Budget Group during the third quarter worth $431,000. Wolverine Asset Management LLC boosted its position in shares of Avis Budget Group by 93.4% during the third quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider’s stock worth $1,469,000 after buying an additional 8,100 shares during the period. Finally, Sigma Planning Corp purchased a new stake in shares of Avis Budget Group in the 3rd quarter valued at $353,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.