Avis Budget Group, Inc. (NASDAQ:CAR) Receives $133.50 Consensus Price Target from Brokerages

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $133.13.

Several analysts have commented on CAR shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna lowered their price objective on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Barclays assumed coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price on the stock.

Avis Budget Group Stock Down 1.9 %

Shares of Avis Budget Group stock opened at $92.95 on Tuesday. The business has a 50 day moving average of $82.82 and a 200 day moving average of $96.33. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $204.77. The company has a market cap of $3.27 billion, a PE ratio of 8.49 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate of $8.55 by ($1.90). The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $16.78 earnings per share. On average, research analysts anticipate that Avis Budget Group will post 5.24 earnings per share for the current year.

Institutional Trading of Avis Budget Group

Several institutional investors have recently bought and sold shares of CAR. EntryPoint Capital LLC boosted its stake in Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares during the last quarter. Central Valley Advisors LLC bought a new stake in Avis Budget Group in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised its position in Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.