Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Price Target at $138.50

Avis Budget Group, Inc. (NASDAQ:CAR) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $136.63.

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, August 30th. The Goldman Sachs Group dropped their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday. Barclays initiated 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 objective for the company. Finally, Susquehanna lowered 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 research report on Friday, August 9th.

Avis Budget Group Price Performance

Shares of CAR opened at $83.04 on Friday. The firm has a market capitalization of $2.96 billion, a PE ratio of 2.62 and a beta of 2.13. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $204.77. The company’s fifty day moving average price is $83.26 and its 200-day moving average price is $100.61.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company posted $11.01 earnings per share. Avis Budget Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Avis Budget Group will post 7.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC grew its position in Avis Budget Group by 39.9% during the third quarter. Inspire Investing LLC now owns 4,683 shares of the business services provider’s stock worth $410,000 after buying an additional 1,335 shares during the period. SG Americas Securities LLC purchased a new position in shares of Avis Budget Group during the third quarter valued at approximately $847,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Avis Budget Group during the second quarter valued at approximately $75,000. Chase Investment Counsel Corp purchased a new position in shares of Avis Budget Group during the second quarter valued at approximately $1,254,000. Finally, Creative Planning raised its stake in Avis Budget Group by 117.8% during the second quarter. Creative Planning now owns 12,672 shares of the business services provider’s stock worth $1,324,000 after purchasing an additional 6,855 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.