State of New Jersey Common Pension Fund D Boosts Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

State of New Jersey Common Pension Fund D grew its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 14.5% during the 4th quarter, HoldingsChannel reports. The fund owned 13,989 shares of the business services provider’s stock after purchasing an additional 1,772 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avis Budget Group were worth $2,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAR. Alaska Permanent Fund Corp boosted its holdings in Avis Budget Group by 2.1% during the 4th quarter. Alaska Permanent Fund Corp now owns 12,353 shares of the business services provider’s stock valued at $2,190,000 after acquiring an additional 253 shares during the period. Duality Advisers LP purchased a new stake in shares of Avis Budget Group during the fourth quarter valued at $794,000. Mackenzie Financial Corp bought a new position in shares of Avis Budget Group in the fourth quarter worth about $687,000. Louisiana State Employees Retirement System purchased a new position in Avis Budget Group in the 4th quarter worth about $922,000. Finally, Cerity Partners LLC bought a new stake in Avis Budget Group during the 4th quarter valued at about $313,000. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $94.75 on Thursday. Avis Budget Group, Inc. has a one year low of $93.53 and a one year high of $244.95. The company has a market capitalization of $3.38 billion, a PE ratio of 2.22 and a beta of 2.22. The company has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $151.21.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.56). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.41 billion. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $7.72 EPS. On average, equities analysts predict that Avis Budget Group, Inc. will post 14.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAR has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $118.00 to $130.00 in a report on Thursday, April 4th. Finally, Bank of America dropped their target price on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Avis Budget Group has an average rating of “Moderate Buy” and a consensus target price of $164.57.

Avis Budget Group 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.