The Goldman Sachs Group Raises Avis Budget Group (NASDAQ:CAR) Price Target to $95.00

Avis Budget Group (NASDAQ:CAR - Get Free Report) had its price objective raised by equities researchers at The Goldman Sachs Group from $85.00 to $95.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. The Goldman Sachs Group's target price points to a potential downside of 5.46% from the stock's current price.

A number of other analysts have also issued reports on CAR. Barclays began coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. StockNews.com raised Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Northcoast Research lowered shares of Avis Budget Group from a "buy" rating to a "neutral" rating in a research note on Monday, November 18th. Finally, 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 research note on Tuesday, November 5th. 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $133.75.

Avis Budget Group Stock Up 0.3 %

Avis Budget Group stock traded up $0.28 during midday trading on Tuesday, reaching $100.49. The company's stock had a trading volume of 670,746 shares, compared to its average volume of 712,993. The business has a 50-day simple moving average of $92.92 and a 200-day simple moving average of $94.67. The company has a market cap of $3.53 billion, a P/E ratio of 9.15 and a beta of 2.20. 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 released its 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 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 analyst estimates of $3.53 billion. During the same period in the previous year, the firm posted $16.78 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that Avis Budget Group will post 3.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL raised its position in shares of Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock valued at $32,000 after buying an additional 240 shares in the last quarter. Nisa Investment Advisors LLC increased 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 in the last quarter. Signaturefd LLC boosted its stake in shares of Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider's stock valued at $75,000 after purchasing an additional 459 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Avis Budget Group during the 2nd quarter worth approximately $75,000. Finally, Carolina Wealth Advisors LLC increased its position in Avis Budget Group by 184.5% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider's stock valued at $98,000 after acquiring an additional 725 shares during the period. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Company Profile

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.