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

Avis Budget Group, Inc. (NASDAQ:CAR) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $133.75.

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group lifted their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays started coverage on 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. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Avis Budget Group Trading Down 0.0 %

Shares of CAR opened at $81.39 on Wednesday. The stock has a market cap of $2.86 billion, a PE ratio of 7.43 and a beta of 2.20. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $183.80. The stock has a 50 day simple moving average of $93.66 and a 200-day simple moving average of $93.15.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company earned $16.78 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Avis Budget Group will post 3.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama raised its position in shares of Avis Budget Group by 50.2% during the 2nd quarter. Retirement Systems of Alabama now owns 34,851 shares of the business services provider’s stock valued at $3,643,000 after acquiring an additional 11,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avis Budget Group by 27.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,664 shares of the business services provider’s stock worth $487,000 after purchasing an additional 1,008 shares during the period. Signaturefd LLC increased its holdings in Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 459 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Avis Budget Group by 13.7% in the second quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider’s stock valued at $260,000 after buying an additional 300 shares during the period. Finally, Chase Investment Counsel Corp bought a new position in Avis Budget Group during the second quarter worth about $1,212,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.