Analysts Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $133.75

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $133.75.

A number of brokerages recently issued reports on CAR. JPMorgan Chase & Co. reduced their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Barclays began coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company.

Avis Budget Group Trading Down 1.2 %

Shares of NASDAQ CAR opened at $80.96 on Wednesday. The stock’s 50-day moving average is $93.76 and its 200 day moving average is $92.80. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 7.39 and a beta of 2.20. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $181.50.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results 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). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous 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. On average, analysts forecast that Avis Budget Group will post 3.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL lifted its position in 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 valued at $32,000 after purchasing an additional 240 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after acquiring an additional 305 shares during the last quarter. Signaturefd LLC raised its position in Avis Budget Group by 180.0% during 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Avis Budget Group in the 2nd quarter valued at approximately $75,000. Finally, Headlands Technologies LLC purchased a new position in shares of Avis Budget Group in the 2nd quarter worth approximately $116,000. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Company Profile

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.