Avis Budget Group, Inc. (NASDAQ:CAR) Receives Average Rating of “Moderate Buy” from Brokerages

Avis Budget Group, Inc. (NASDAQ:CAR) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $133.13.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped 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, November 4th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. The Goldman Sachs Group cut their target price on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Barclays started coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price on the stock.

Institutional Investors Weigh In On Avis Budget Group

A number of large investors have recently modified their holdings of CAR. SummerHaven Investment Management LLC increased its stake in Avis Budget Group by 4.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider’s stock worth $337,000 after buying an additional 138 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Central Valley Advisors LLC acquired a new position in shares of Avis Budget Group in the second quarter worth about $25,000. Algert Global LLC boosted its holdings in Avis Budget Group by 2.5% in the second quarter. Algert Global LLC now owns 10,165 shares of the business services provider’s stock valued at $1,062,000 after purchasing an additional 245 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Avis Budget Group by 13.7% during the 2nd quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of NASDAQ CAR opened at $109.07 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 9.96 and a beta of 2.14. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $204.77. The firm’s 50 day moving average price is $91.02 and its 200 day moving average price is $95.67.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) 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 analyst estimates of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. During the same quarter last year, the business earned $16.78 EPS. Avis Budget Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Avis Budget Group will post 3.59 EPS for the current year.

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.