Analysts Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $143.29

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $138.50.

Several equities analysts have recently weighed in on CAR shares. Barclays initiated coverage on shares of Avis Budget Group in a research note on Thursday. They issued an “equal weight” rating and a $105.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Susquehanna reduced 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. reduced their price objective on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Institutional Trading of Avis Budget Group

Several institutional investors have recently bought and sold shares of CAR. Central Valley Advisors LLC bought a new position in shares of Avis Budget Group in the 2nd quarter worth approximately $25,000. Denali Advisors LLC raised its position in shares of Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after buying an additional 124 shares in the last quarter. TFO Wealth Partners LLC increased its stake in Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares in the last quarter. Finally, Signaturefd LLC grew its position 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 worth $75,000 after purchasing an additional 459 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 1.5 %

Shares of Avis Budget Group stock opened at $85.90 on Monday. The company has a 50 day moving average of $88.09 and a 200-day moving average of $103.38. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $204.77. The company has a market cap of $3.06 billion, a PE ratio of 2.71 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a net margin of 6.58% and a negative return on equity of 230.71%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the business posted $11.01 EPS. Avis Budget Group’s revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Avis Budget Group will post 7.68 earnings per share for the current year.

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.