Inspire Investing LLC Acquires 416 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Inspire Investing LLC boosted its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,348 shares of the business services provider’s stock after buying an additional 416 shares during the period. Inspire Investing LLC’s holdings in Avis Budget Group were worth $350,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in Avis Budget Group during the second quarter valued at $19,978,000. Russell Investments Group Ltd. lifted its stake in Avis Budget Group by 70,663.6% during the first quarter. Russell Investments Group Ltd. now owns 7,784 shares of the business services provider’s stock worth $954,000 after purchasing an additional 7,773 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Avis Budget Group during the first quarter worth about $1,069,000. Gabelli Funds LLC bought a new stake in Avis Budget Group during the first quarter worth about $1,898,000. Finally, Norges Bank bought a new stake in Avis Budget Group during the fourth quarter worth about $30,234,000. Institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAR. The Goldman Sachs Group dropped their price target on Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Susquehanna dropped their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays initiated coverage on Avis Budget Group in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $138.50.

Avis Budget Group Trading Up 0.7 %

NASDAQ CAR opened at $86.53 on Tuesday. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $204.77. The stock has a 50-day moving average of $87.66 and a 200-day moving average of $103.18. The firm has a market cap of $3.08 billion, a PE ratio of 2.73 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the firm earned $11.01 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Avis Budget Group, Inc. will post 7.68 earnings per share for the current fiscal 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.