Avis Budget Group, Inc. (NASDAQ:CAR) Stock Position Trimmed by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in shares of Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) by 56.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,360 shares of the business services provider's stock after selling 133,267 shares during the period. Bank of Montreal Can owned about 0.29% of Avis Budget Group worth $9,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAR. Central Valley Advisors LLC acquired a new position in Avis Budget Group during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its position in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock worth $36,000 after buying an additional 305 shares during the period. Signaturefd LLC grew its stake in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider's stock worth $75,000 after buying an additional 459 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Avis Budget Group during the second quarter worth approximately $75,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAR shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Susquehanna decreased their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, November 4th. StockNews.com raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $133.13.

Avis Budget Group Trading Down 2.9 %

CAR stock traded down $3.17 during mid-day trading on Monday, hitting $105.90. 111,348 shares of the company were exchanged, compared to its average volume of 714,411. The company has a market capitalization of $3.72 billion, a PE ratio of 9.96 and a beta of 2.14. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $204.77. The firm has a fifty day simple moving average of $91.02 and a 200 day simple moving average of $95.26.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business 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 posted $16.78 earnings per share. The company's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avis Budget Group, Inc. will post 3.59 earnings per share for the current year.

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.