Avis Budget Group (NASDAQ:CAR) Stock Rating Lowered by Northcoast Research

Avis Budget Group (NASDAQ:CAR) was downgraded by stock analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued on Monday, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on the stock. Barclays assumed 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 target on the stock. 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 on the stock in a research note on Friday, October 11th. Susquehanna decreased their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $133.13.

Avis Budget Group Stock Down 0.9 %

Shares of CAR opened at $100.06 on Monday. The company has a 50-day simple moving average of $86.17 and a 200-day simple moving average of $96.29. The company has a market capitalization of $3.52 billion, a PE ratio of 9.14 and a beta of 2.14. Avis Budget Group has a 52-week low of $65.73 and a 52-week high of $204.77.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share 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 quarter last year, the business posted $16.78 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts anticipate that Avis Budget Group will post 5.24 EPS for the current year.

Institutional Trading of Avis Budget Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp bought a new stake in shares of Avis Budget Group in the third quarter worth $333,000. Barclays PLC increased its stake in shares of Avis Budget Group by 30.5% in the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after buying an additional 46,922 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Avis Budget Group in the third quarter worth $685,000. National Bank of Canada FI increased its stake 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 buying an additional 85,405 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its holdings in 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 worth $2,891,000 after purchasing an additional 13,000 shares during the period. Institutional investors own 96.35% of the company’s stock.

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.