Avis Budget Group (NASDAQ:CAR) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research note released on Wednesday.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group raised shares of Avis Budget Group from a sell rating to a neutral rating and increased their target price for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Northcoast Research raised shares of Avis Budget Group from a neutral rating to a buy rating and set a $155.00 target price on the stock in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Avis Budget Group from $202.00 to $183.00 and set a buy rating on the stock in a report on Thursday, April 18th. Susquehanna lowered their price target on Avis Budget Group from $145.00 to $117.00 and set a neutral rating for the company in a report on Tuesday, April 30th. Finally, Bank of America reduced their price objective on Avis Budget Group from $170.00 to $140.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $164.57.

Avis Budget Group Stock Down 1.1 %

Shares of NASDAQ CAR opened at $104.52 on Wednesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 3.30 and a beta of 2.26. The firm has a fifty day moving average of $110.78 and a 200-day moving average of $130.62. Avis Budget Group has a 52-week low of $93.53 and a 52-week high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. Avis Budget Group’s revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted $7.72 EPS. Equities research analysts expect that Avis Budget Group will post 12.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Denali Advisors LLC raised its holdings in shares of Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after purchasing an additional 112 shares during the period. EntryPoint Capital LLC boosted its holdings in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 124 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Avis Budget Group by 15,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 311 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Avis Budget Group in the 4th quarter worth about $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Avis Budget Group by 55.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 324 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.