Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $133.50

Avis Budget Group, Inc. (NASDAQ:CAR) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $133.13.

CAR has been the subject of a number of research reports. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday. Barclays began coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered 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. Finally, The Goldman Sachs Group cut their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP grew its stake in Avis Budget Group by 220.9% during the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock worth $72,147,000 after purchasing an additional 475,181 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Avis Budget Group by 17.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 589,780 shares of the business services provider’s stock worth $61,644,000 after buying an additional 88,279 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after buying an additional 478,552 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Avis Budget Group in the second quarter valued at approximately $19,978,000. Finally, Hsbc Holdings PLC lifted its stake in Avis Budget Group by 16.3% in the second quarter. Hsbc Holdings PLC now owns 126,380 shares of the business services provider’s stock worth $13,036,000 after acquiring an additional 17,750 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $94.79 on Tuesday. The stock has a market capitalization of $3.33 billion, a PE ratio of 8.66 and a beta of 2.14. The business has a 50 day simple moving average of $82.60 and a 200-day simple moving average of $96.43. Avis Budget Group has a 12 month low of $65.73 and a 12 month high of $204.77.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). The company had revenue of $3.48 billion for 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $16.78 earnings per share. On average, equities research analysts anticipate that Avis Budget Group will post 6.66 EPS for the current fiscal year.

About Avis Budget Group

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.