Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $133.75

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $133.75.

CAR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group raised their price objective on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CAR. FMR LLC raised its position in Avis Budget Group by 4.0% during the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after purchasing an additional 129,805 shares during the last quarter. Rubric Capital Management LP increased its stake in shares of Avis Budget Group by 220.9% in the second quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after buying an additional 475,181 shares during the period. State Street Corp raised its position in shares of Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock worth $58,880,000 after acquiring an additional 16,221 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Avis Budget Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock worth $51,883,000 after acquiring an additional 2,561 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after acquiring an additional 478,552 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Shares of NASDAQ CAR opened at $80.96 on Wednesday. The business has a fifty day moving average price of $93.76 and a two-hundred day moving average price of $92.41. The stock has a market capitalization of $2.84 billion, a PE ratio of 7.39 and a beta of 2.20. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $181.50.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $16.78 EPS. On average, equities analysts expect that Avis Budget Group will post 3.59 EPS for the current year.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.