Avis Budget Group, Inc. (NASDAQ:CAR) Receives $133.75 Average PT from Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $133.75.

CAR has been the subject of several analyst reports. Northcoast Research cut shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. 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. cut their price objective 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. Finally, StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th.

Avis Budget Group Stock Up 1.7 %

CAR traded up $1.50 during trading hours on Friday, hitting $90.18. 1,165,507 shares of the company's stock were exchanged, compared to its average volume of 523,707. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.24 and a beta of 2.25. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $176.79. The stock's 50-day moving average is $93.14 and its two-hundred day moving average is $90.15.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the business earned $16.78 EPS. Avis Budget Group's revenue was down 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Avis Budget Group will post 3.68 EPS for the current year.

Institutional Trading of Avis Budget Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of Avis Budget Group by 4.0% in the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider's stock worth $293,825,000 after purchasing an additional 129,805 shares during the period. Rubric Capital Management LP increased its holdings in Avis Budget Group by 220.9% in the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider's stock valued at $72,147,000 after buying an additional 475,181 shares during the period. State Street Corp raised its position in shares of Avis Budget Group by 2.5% in the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider's stock valued at $58,880,000 after buying an additional 16,221 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Avis Budget Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider's stock worth $51,883,000 after acquiring an additional 2,561 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Avis Budget Group by 19,203.5% during the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock worth $421,350,000 after acquiring an additional 478,552 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 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.