Avis Budget Group (NASDAQ:CAR) Stock Gets Price Target Increase from The Goldman Sachs Group

Avis Budget Group (NASDAQ:CAR) had its price objective upped by The Goldman Sachs Group from $94.00 to $108.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the business services provider’s stock. The Goldman Sachs Group‘s price objective suggests a potential downside of 9.11% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CAR. Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a research report on Monday, August 17th. Morgan Stanley dropped their price objective 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. Barclays cut their target price on Avis Budget Group from $160.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, November 2nd. Susquehanna decreased their price target on Avis Budget Group from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Zacks Research lowered shares of Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $116.14.

Avis Budget Group Price Performance

NASDAQ CAR traded down $1.61 on Thursday, reaching $118.83. The stock had a trading volume of 962,769 shares, compared to its average volume of 411,303. The company has a market cap of $4.20 billion, a P/E ratio of -5.14 and a beta of 1.95. The firm has a fifty day moving average of $114.17 and a two-hundred day moving average of $152.93. Avis Budget Group has a 1-year low of $85.96 and a 1-year high of $847.70.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.01 by ($2.86). The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the firm posted $10.11 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that Avis Budget Group will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

A number of hedge funds have recently made changes to their positions in CAR. Pentwater Capital Management LP bought a new position in Avis Budget Group in the 2nd quarter valued at approximately $371,541,000. Hsbc Holdings PLC bought a new stake in Avis Budget Group during the 2nd quarter worth $247,773,000. BlackRock Inc. acquired a new position in Avis Budget Group in the 2nd quarter worth about $245,413,000. Cibc World Market Inc. acquired a new position in Avis Budget Group in the 2nd quarter worth about $73,915,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Avis Budget Group during the second quarter valued at about $46,701,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

More Avis Budget Group News

Here are the key news stories impacting Avis Budget Group this week:

• Positive Sentiment: Shares reportedly gained attention after Avis posted record fleet utilization and better cash flow, while investors looked toward a Q4 EBITDA recovery despite the earnings miss. Avis Budget Stock Appreciates 10% Despite Earnings Miss in Q3
• Neutral Sentiment: The company projected approximately $850 million in full-year 2026 adjusted EBITDA and said it is targeting meaningful revenue-management benefits by summer 2027. These are potential supports, though the benefits are not expected immediately. Avis Budget projects full-year 2026 adjusted EBITDA
• Negative Sentiment: Q3 adjusted earnings were $5.15 per share, below the $8.01 consensus, and revenue fell 2.4% year over year to $3.44 billion. Soft travel demand remains a concern for rental volumes and pricing.
• Negative Sentiment: JPMorgan cut its price target to $85 from $105 and maintained an “underweight” rating, citing downside risk. JPMorgan price target and rating
• Negative Sentiment: Goldman Sachs raised its target to $108 from $94 but kept a “sell” rating, indicating its outlook remains cautious. Goldman Sachs price target and rating

About Avis Budget Group

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.