Avis Budget Group, Inc. (NASDAQ:CAR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $133.75.

Several brokerages have issued reports on CAR. JPMorgan Chase & Co. dropped their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report 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. Deutsche Bank Aktiengesellschaft decreased their price target 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. Finally, The Goldman Sachs Group upped their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th.

Institutional Investors Weigh In On Avis Budget Group

Several hedge funds and other institutional investors have recently made changes to their positions in CAR. FMR LLC grew its holdings in Avis Budget Group by 4.0% during the third quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after buying an additional 129,805 shares in the last quarter. State Street Corp boosted its holdings in Avis Budget Group by 2.5% during the 3rd quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock worth $58,880,000 after acquiring an additional 16,221 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Avis Budget Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock worth $51,883,000 after acquiring an additional 2,561 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after purchasing an additional 478,552 shares during the last quarter. Finally, JAT Capital Mgmt LP lifted its position in shares of Avis Budget Group by 24.5% during the third quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock valued at $34,876,000 after purchasing an additional 78,383 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Stock Down 6.8 %

NASDAQ CAR opened at $83.59 on Thursday. The stock has a fifty day simple moving average of $88.13 and a 200 day simple moving average of $88.23. Avis Budget Group has a twelve month low of $65.73 and a twelve month high of $160.99. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 7.63 and a beta of 2.26.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. Research analysts expect that Avis Budget Group will post 3.69 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.