Zacks Research Issues Optimistic Outlook for CAR Earnings

Avis Budget Group, Inc. (NASDAQ:CAR) – Research analysts at Zacks Research upped their Q3 2026 earnings estimates for shares of Avis Budget Group in a report issued on Monday, November 17th. Zacks Research analyst Team now anticipates that the business services provider will post earnings per share of $7.04 for the quarter, up from their prior forecast of $6.56. Zacks Research currently has a “Strong Sell” rating on the stock. The consensus estimate for Avis Budget Group’s current full-year earnings is $8.91 per share.

A number of other brokerages also recently issued reports on CAR. Barclays cut their price objective on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Susquehanna dropped their target price on shares of Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $105.00 price target (up from $87.00) on shares of Avis Budget Group in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $136.83.

Avis Budget Group Stock Down 6.6%

Shares of Avis Budget Group stock opened at $129.45 on Tuesday. Avis Budget Group has a 52 week low of $54.03 and a 52 week high of $212.81. The business’s fifty day simple moving average is $149.98 and its 200-day simple moving average is $149.85. The firm has a market cap of $4.56 billion, a PE ratio of -2.16 and a beta of 2.12.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $10.11 EPS for the quarter, beating analysts’ consensus estimates of $8.11 by $2.00. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.47 billion. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.65 earnings per share.

Institutional Investors Weigh In On Avis Budget Group

A number of hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its stake in shares of Avis Budget Group by 48,706.7% in the second quarter. Hsbc Holdings PLC now owns 1,552,542 shares of the business services provider’s stock worth $256,629,000 after acquiring an additional 1,549,361 shares in the last quarter. ING Groep NV grew its stake in Avis Budget Group by 440.2% during the 3rd quarter. ING Groep NV now owns 1,035,000 shares of the business services provider’s stock worth $166,195,000 after purchasing an additional 843,400 shares in the last quarter. National Bank of Canada FI grew its stake in Avis Budget Group by 166.7% during the 2nd quarter. National Bank of Canada FI now owns 880,239 shares of the business services provider’s stock worth $148,804,000 after purchasing an additional 550,239 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Avis Budget Group during the 3rd quarter worth about $64,231,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Avis Budget Group in the 1st quarter valued at about $18,975,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

About Avis Budget Group

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.