Avis Budget Group (NASDAQ:CAR) Price Target Raised to $95.00 at The Goldman Sachs Group

Avis Budget Group (NASDAQ:CAR) had its price target raised by The Goldman Sachs Group from $85.00 to $95.00 in a report released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. cut their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. 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. Finally, Barclays assumed coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Price Performance

Shares of CAR stock opened at $100.49 on Tuesday. Avis Budget Group has a one year low of $65.73 and a one year high of $204.77. The stock has a fifty day moving average price of $93.21 and a 200 day moving average price of $94.59. The stock has a market cap of $3.53 billion, a P/E ratio of 9.18 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the firm posted $16.78 earnings per share. Avis Budget Group’s revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Avis Budget Group will post 3.59 EPS for the current year.

Hedge Funds Weigh In On Avis Budget Group

Large investors have recently modified their holdings of the stock. Wolverine Asset Management LLC increased its position in Avis Budget Group by 93.4% in the third quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider’s stock worth $1,469,000 after purchasing an additional 8,100 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Avis Budget Group in the 2nd quarter valued at about $19,978,000. Lecap Asset Management Ltd. acquired a new stake in shares of Avis Budget Group during the 2nd quarter worth approximately $1,400,000. Algert Global LLC raised its stake in shares of Avis Budget Group by 123.8% during the third quarter. Algert Global LLC now owns 22,745 shares of the business services provider’s stock worth $1,992,000 after buying an additional 12,580 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Avis Budget Group by 266.9% in the second quarter. Canada Pension Plan Investment Board now owns 63,100 shares of the business services provider’s stock valued at $6,595,000 after buying an additional 45,900 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

About Avis Budget Group

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.