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

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $133.13.

CAR has been the subject of several research reports. Barclays assumed 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. JPMorgan Chase & Co. decreased their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. 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 decreased 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, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Avis Budget Group Trading Up 0.2 %

Shares of NASDAQ:CAR opened at $109.07 on Friday. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $204.77. The company’s 50 day moving average is $91.02 and its two-hundred day moving average is $95.67. The company has a market cap of $3.83 billion, a PE ratio of 9.96 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $16.78 EPS. As a group, equities research analysts expect that Avis Budget Group will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp purchased a new position in shares of Avis Budget Group during the 3rd quarter worth approximately $333,000. Barclays PLC grew its holdings in Avis Budget Group by 30.5% during the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock valued at $17,571,000 after buying an additional 46,922 shares during the last quarter. XTX Topco Ltd purchased a new position in Avis Budget Group during the third quarter worth $685,000. National Bank of Canada FI raised its holdings in shares of Avis Budget Group by 1,858.7% in the third quarter. National Bank of Canada FI now owns 90,000 shares of the business services provider’s stock worth $7,883,000 after acquiring an additional 85,405 shares during the last quarter. Finally, Whitebox Advisors LLC lifted its position in shares of Avis Budget Group by 65.0% in the third quarter. Whitebox Advisors LLC now owns 33,003 shares of the business services provider’s stock valued at $2,891,000 after acquiring an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.