Avis Budget Group, Inc. (NASDAQ:CAR) Stock Has Average Target Price of $125.71 According to Brokerages

Avis Budget Group, Inc. (NASDAQ:CAR) has received an average recommendation of “Reduce” from the nine research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $125.71.

Several analysts have weighed in on CAR shares. JPMorgan Chase & Co. dropped their price target on Avis Budget Group from $145.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, October 8th. Wall Street Zen lowered Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research cut Avis Budget Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avis Budget Group in a report on Monday, August 17th. Finally, Morgan Stanley decreased their target price on Avis Budget Group from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, September 11th.

Hedge Funds Weigh In On Avis Budget Group

Institutional investors have recently bought and sold shares of the business. Inspire Investing LLC lifted its stake in Avis Budget Group by 27.7% during the 3rd quarter. Inspire Investing LLC now owns 5,916 shares of the business services provider’s stock valued at $631,000 after acquiring an additional 1,285 shares during the period. SummerHaven Investment Management LLC purchased a new stake in shares of Avis Budget Group in the 3rd quarter valued at $796,000. GAMMA Investing LLC boosted its holdings in shares of Avis Budget Group by 11.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,140 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 113 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Avis Budget Group by 129.0% in the second quarter. Engineers Gate Manager LP now owns 16,821 shares of the business services provider’s stock worth $2,487,000 after acquiring an additional 9,474 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Avis Budget Group in the second quarter worth $448,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Price Performance

NASDAQ CAR opened at $101.86 on Tuesday. The stock’s fifty day moving average price is $119.90 and its 200 day moving average price is $153.58. Avis Budget Group has a 1 year low of $85.96 and a 1 year high of $847.70. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -5.61 and a beta of 2.12.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, July 28th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($1.07). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business earned $0.10 EPS. Avis Budget Group’s revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Avis Budget Group will post 1.08 earnings per share for the current year.

Avis Budget Group Company Profile

Avis Budget Group, Inc is a provider of mobility and vehicle-rental services. Through its Avis and Budget brands, the company offers car and truck rentals to business and leisure customers, serving travelers through airport and neighborhood locations as well as digital booking channels.

The company also operates Zipcar, a car-sharing service that provides members with access to vehicles for short-term use. Its brand portfolio has also included Payless, which serves value-oriented rental customers.