Avis Budget Group (NASDAQ:CAR) Stock Price Target Lowered at Barclays

Avis Budget Group (NASDAQ:CAR) had its price target cut by investment analysts at Barclays from $160.00 to $115.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective would suggest a potential upside of 2.51% from the company’s previous close.

Several other equities analysts have also recently issued reports on CAR. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $145.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, October 8th. Zacks Research cut Avis Budget Group from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. The Goldman Sachs Group raised their target price on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “sell” rating in a research note on Friday, July 24th. Wall Street Zen cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avis Budget Group in a research note on Monday, August 17th. Five research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Avis Budget Group presently has a consensus rating of “Reduce” and a consensus price target of $119.29.

Avis Budget Group Price Performance

Shares of CAR stock traded up $4.19 on Monday, reaching $112.18. 246,656 shares of the stock were exchanged, compared to its average volume of 1,216,302. The stock has a market cap of $3.96 billion, a PE ratio of -6.15 and a beta of 2.12. Avis Budget Group has a one year low of $85.96 and a one year high of $847.70. The stock has a 50 day moving average price of $117.01 and a 200 day moving average price of $153.13.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Avis Budget Group in the first quarter worth $44,000. Allworth Financial LP acquired a new position in shares of Avis Budget Group in the 2nd quarter valued at $77,000. Nykredit A S acquired a new position in shares of Avis Budget Group in the 2nd quarter valued at $80,000. Parallel Advisors LLC grew its holdings in shares of Avis Budget Group by 11.6% in the 1st quarter. Parallel Advisors LLC now owns 587 shares of the business services provider’s stock valued at $86,000 after buying an additional 61 shares during the period. Finally, GAMMA Investing LLC increased its position 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 buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.