Avis Budget Group (NASDAQ:CAR) Stock Rating Upgraded by StockNews.com

Avis Budget Group (NASDAQ:CAR - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Monday. The Goldman Sachs Group cut their price target on Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Susquehanna cut their price target on Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Avis Budget Group from $155.00 to $146.00 and set a "buy" rating for the company in a report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.50.

Avis Budget Group Trading Down 1.9 %

Shares of CAR traded down $1.79 during midday trading on Monday, hitting $90.27. 974,370 shares of the company's stock traded hands, compared to its average volume of 722,595. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $204.77. The firm's fifty day moving average is $82.01 and its 200-day moving average is $96.54. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.24 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) 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 89.12%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the company earned $16.78 earnings per share. 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 6.66 EPS for the current year.

Institutional Trading of Avis Budget Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CAR. Wolverine Asset Management LLC increased its position in shares of Avis Budget Group by 93.4% during 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 in the last quarter. Sigma Planning Corp purchased a new position in shares of Avis Budget Group during the third quarter worth about $353,000. Nisa Investment Advisors LLC grew its holdings in shares of 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 last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of 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 buying an additional 240 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock worth $421,350,000 after buying an additional 478,552 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.