Avis Budget Group (NASDAQ:CAR) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Avis Budget Group (NASDAQ:CAR) from a sell rating to a hold rating in a research report report published on Monday morning.

A number of other equities research analysts also recently weighed in on the stock. Barclays assumed coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective for the company. The Goldman Sachs Group dropped their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. cut their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Finally, Susquehanna cut their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Avis Budget Group Stock Down 1.9 %

Shares of NASDAQ:CAR opened at $90.27 on Monday. The company has a 50 day moving average of $82.01 and a two-hundred day moving average of $96.54. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.24 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 quarterly earnings results 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). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 89.12%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the prior year, the company posted $16.78 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts anticipate that Avis Budget Group will post 6.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC raised its stake 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 purchasing an additional 124 shares in the last quarter. Central Valley Advisors LLC bought a new stake in shares of Avis Budget Group during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after acquiring an additional 305 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares in the last quarter. 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.