Avis Budget Group, Inc. (NASDAQ:CAR) Receives $133.75 Consensus Price Target from Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CARGet Free Report) have earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $133.75.

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered 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. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. reduced their price objective on 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 upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group upped their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th.

Check Out Our Latest Report on Avis Budget Group

Avis Budget Group Stock Up 0.1 %

NASDAQ:CAR opened at $90.30 on Friday. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $176.79. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.25 and a beta of 2.25. The company’s 50 day moving average price is $93.00 and its 200-day moving average price is $89.90.

Avis Budget Group (NASDAQ:CARGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the business earned $16.78 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Avis Budget Group will post 3.68 earnings per share for the current year.

Hedge Funds Weigh In On Avis Budget Group

Several large investors have recently modified their holdings of the business. FMR LLC lifted its position in shares of Avis Budget Group by 4.0% during the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after purchasing an additional 129,805 shares during the last quarter. Rubric Capital Management LP lifted its position in Avis Budget Group by 220.9% in the second quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after purchasing an additional 475,181 shares during the period. State Street Corp lifted its stake in shares of Avis Budget Group by 2.5% in the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after purchasing an additional 16,221 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Avis Budget Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock valued at $51,883,000 after acquiring an additional 2,561 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Avis Budget Group by 19,203.5% during the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after purchasing an additional 478,552 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

About Avis Budget Group

(Get Free Report

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.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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