Avis Budget Group, Inc. (NASDAQ:CAR) Receives $133.75 Consensus Price Target from Analysts

Avis Budget Group, Inc. (NASDAQ:CAR) has received a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $133.75.

Several equities analysts recently issued reports on the stock. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. The Goldman Sachs Group boosted their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Barclays started coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target on the stock.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $80.96 on Wednesday. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $181.50. The company’s 50-day moving average is $93.76 and its 200 day moving average is $92.80. The firm has a market capitalization of $2.84 billion, a P/E ratio of 7.39 and a beta of 2.20.

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 the consensus estimate of $8.55 by ($1.90). The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $16.78 EPS. Research analysts anticipate that Avis Budget Group will post 3.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds have recently added to or reduced their stakes in CAR. Retirement Systems of Alabama grew its stake in shares of Avis Budget Group by 50.2% during the 2nd quarter. Retirement Systems of Alabama now owns 34,851 shares of the business services provider’s stock worth $3,643,000 after purchasing an additional 11,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Avis Budget Group by 27.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,664 shares of the business services provider’s stock worth $487,000 after acquiring an additional 1,008 shares in the last quarter. Signaturefd LLC grew its position in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the period. International Assets Investment Management LLC grew its position in shares of Avis Budget Group by 13.7% during the 2nd quarter. International Assets Investment Management LLC now owns 2,492 shares of the business services provider’s stock valued at $260,000 after acquiring an additional 300 shares during the period. Finally, Chase Investment Counsel Corp purchased a new position in shares of Avis Budget Group in the 2nd quarter valued at about $1,212,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.