Avis Budget Group, Inc. (NASDAQ:CAR) Receives $133.50 Consensus PT from Analysts

Avis Budget Group, Inc. (NASDAQ:CAR) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $133.13.

Several research analysts have recently issued reports on CAR shares. The Goldman Sachs Group lowered their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays began coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price for the company. Finally, Susquehanna dropped their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $94.79 on Tuesday. The stock has a market cap of $3.33 billion, a PE ratio of 8.66 and a beta of 2.14. The stock’s fifty day moving average is $82.60 and its two-hundred day moving average is $96.43. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $204.77.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Avis Budget Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $16.78 EPS. On average, research analysts expect that Avis Budget Group will post 6.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Central Valley Advisors LLC purchased a new stake in shares of Avis Budget Group in the second quarter valued at about $25,000. EntryPoint Capital LLC boosted its holdings in Avis Budget Group by 119.2% in 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 in the last quarter. Strategic Investment Solutions Inc. IL increased its position in Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC increased its position in Avis Budget Group by 293.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after purchasing an additional 305 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares in the last quarter. 96.35% of the stock is currently 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.