Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $133.50

Shares of Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) have received an average rating of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $133.13.

A number of research firms have recently commented on CAR. The Goldman Sachs Group dropped their price objective on shares of Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, October 11th. Susquehanna cut their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday. 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 objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a research note on Tuesday.

Avis Budget Group Stock Performance

CAR stock traded down $1.81 during midday trading on Tuesday, hitting $88.46. 532,725 shares of the stock were exchanged, compared to its average volume of 721,709. The stock's 50-day moving average price is $82.01 and its 200-day moving average price is $96.54. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 8.12 and a beta of 2.14. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $204.77.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts' consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 89.12%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the company posted $16.78 EPS. Avis Budget Group's quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that Avis Budget Group will post 6.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAR. State of Michigan Retirement System lifted its holdings in Avis Budget Group by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider's stock valued at $560,000 after acquiring an additional 100 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Avis Budget Group by 77.8% in the first quarter. Janney Montgomery Scott LLC now owns 4,517 shares of the business services provider's stock valued at $553,000 after buying an additional 1,977 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Avis Budget Group by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 16,167 shares of the business services provider's stock valued at $1,980,000 after acquiring an additional 260 shares during the last quarter. Duality Advisers LP boosted its stake in shares of Avis Budget Group by 122.2% during the 1st quarter. Duality Advisers LP now owns 9,956 shares of the business services provider's stock worth $1,219,000 after acquiring an additional 5,476 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Avis Budget Group in the 1st quarter worth $5,193,000. 96.35% of the stock is currently owned by institutional investors.

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.