Avis Budget Group, Inc. (NASDAQ:CAR) Stock Has Average Target Price of $135.00 According to Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have received an average recommendation of “Reduce” from the nine analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $135.00.

CAR has been the topic of a number of analyst reports. Zacks Research upgraded Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Wall Street Zen cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. The Goldman Sachs Group raised their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “sell” rating in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Avis Budget Group from $155.00 to $170.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley reduced their price objective on shares of Avis Budget Group from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, September 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Pentwater Capital Management LP bought a new stake in Avis Budget Group in the second quarter worth approximately $371,541,000. Hsbc Holdings PLC bought a new stake in shares of Avis Budget Group in the 2nd quarter valued at $247,773,000. BlackRock Inc. bought a new stake in shares of Avis Budget Group in the 2nd quarter valued at $245,413,000. Cibc World Market Inc. lifted its position in shares of Avis Budget Group by 75.0% during the 4th quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider’s stock valued at $89,825,000 after acquiring an additional 300,000 shares during the period. Finally, Mizuho Markets Americas LLC boosted its stake in Avis Budget Group by 7.4% during the first quarter. Mizuho Markets Americas LLC now owns 400,000 shares of the business services provider’s stock worth $58,340,000 after acquiring an additional 27,500 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Price Performance

Shares of NASDAQ CAR opened at $112.65 on Friday. Avis Budget Group has a 1 year low of $85.96 and a 1 year high of $847.70. The firm has a market cap of $3.98 billion, a PE ratio of -6.20 and a beta of 2.12. The company has a 50 day simple moving average of $130.10 and a 200 day simple moving average of $173.58.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($1.07). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.10 billion. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts anticipate that Avis Budget Group will post 1.08 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc is a global provider of vehicle rental and mobility services. The company operates through a portfolio of brands that includes Avis, Budget, Payless and Zipcar, offering cars, vans and other vehicles to leisure and business customers.

Avis and Budget provide short-term vehicle rentals through airport and neighborhood locations, while Payless focuses on value-oriented rental services. Zipcar operates a car-sharing network that allows members to reserve vehicles by the hour or day.