Toronto Dominion Bank Acquires 20,299 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Toronto Dominion Bank increased its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 2,029,900.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,300 shares of the business services provider’s stock after acquiring an additional 20,299 shares during the quarter. Toronto Dominion Bank’s holdings in Avis Budget Group were worth $1,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAR. BlackRock Inc. raised its position in Avis Budget Group by 7.2% in the first quarter. BlackRock Inc. now owns 7,031,582 shares of the business services provider’s stock valued at $510,072,000 after purchasing an additional 472,186 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Avis Budget Group by 335.1% in the first quarter. Canada Pension Plan Investment Board now owns 1,941,500 shares of the business services provider’s stock valued at $140,837,000 after purchasing an additional 1,495,300 shares in the last quarter. Morgan Stanley grew its position in Avis Budget Group by 136.4% during the first quarter. Morgan Stanley now owns 1,119,983 shares of the business services provider’s stock worth $81,244,000 after buying an additional 646,253 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Avis Budget Group by 372.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,036,115 shares of the business services provider’s stock valued at $75,160,000 after acquiring an additional 816,853 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Avis Budget Group by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 893,089 shares of the business services provider’s stock valued at $64,784,000 after purchasing an additional 71,187 shares during the period.

Avis Budget Group stock opened at $94.11 on Wednesday. The firm has a market capitalization of $6.26 billion, a P/E ratio of 37.05, a PEG ratio of 0.11 and a beta of 2.34. Avis Budget Group, Inc. has a 1 year low of $25.54 and a 1 year high of $102.94. The business has a 50-day moving average of $86.68 and a 200-day moving average of $81.84. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 159.62.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, August 2nd. The business services provider reported $5.90 EPS for the quarter, beating the consensus estimate of $1.21 by $4.69. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.08 billion. Avis Budget Group had a negative return on equity of 385.05% and a net margin of 2.76%. Research analysts anticipate that Avis Budget Group, Inc. will post 13.73 EPS for the current fiscal year.

A number of brokerages have issued reports on CAR. Morgan Stanley increased their price target on Avis Budget Group from $73.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, June 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avis Budget Group from $75.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, August 2nd. Barclays decreased their price objective on shares of Avis Budget Group from $83.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 21st. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Avis Budget Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $100.00 in a research note on Thursday, August 5th. Finally, Bank of America upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $125.00 in a report on Thursday, September 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Buy” and an average price target of $93.17.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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