Avis Budget Group (NASDAQ:CAR) Rating Lowered to Neutral at Northcoast Research

Northcoast Research cut shares of Avis Budget Group (NASDAQ:CAR - Free Report) from a buy rating to a neutral rating in a report issued on Monday morning, Marketbeat Ratings reports.

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

Avis Budget Group Stock Up 0.7 %

NASDAQ CAR traded up $0.69 during trading hours on Monday, hitting $100.94. The company had a trading volume of 581,442 shares, compared to its average volume of 724,988. The firm has a market cap of $3.55 billion, a P/E ratio of 9.17 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. The business has a fifty day simple moving average of $85.54 and a 200-day simple moving average of $96.38.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts' consensus estimates of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $16.78 EPS. Equities analysts forecast that Avis Budget Group will post 5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

A number of large investors have recently modified their holdings of CAR. EntryPoint Capital LLC grew its stake in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider's stock valued at $28,000 after purchasing an additional 124 shares in the last quarter. Central Valley Advisors LLC bought a new position in shares of Avis Budget Group in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL increased its holdings 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 buying an additional 240 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 acquiring an additional 305 shares in the last quarter. Finally, Signaturefd LLC raised its position 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 acquiring an additional 459 shares in 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.