Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) PT at $138.50

Avis Budget Group, Inc. (NASDAQ:CAR) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $136.63.

Several equities research analysts recently issued reports on CAR shares. StockNews.com downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. cut their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Barclays began coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target for the company. Susquehanna decreased their target price 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. Finally, The Goldman Sachs Group cut their price target on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $77.47 on Friday. The stock has a 50 day moving average of $83.02 and a 200 day moving average of $99.84. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 2.45 and a beta of 2.13. 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) last announced its earnings results on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($2.19). The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $11.01 EPS. Analysts forecast that Avis Budget Group will post 7.68 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Inspire Investing LLC increased its holdings in shares of Avis Budget Group by 39.9% in the 3rd quarter. Inspire Investing LLC now owns 4,683 shares of the business services provider’s stock valued at $410,000 after acquiring an additional 1,335 shares during the period. SG Americas Securities LLC acquired a new position in Avis Budget Group in the third quarter valued at $847,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Avis Budget Group in the second quarter valued at about $75,000. Chase Investment Counsel Corp purchased a new stake in shares of Avis Budget Group in the second quarter valued at about $1,254,000. Finally, Creative Planning grew its holdings in shares of Avis Budget Group by 117.8% during the second quarter. Creative Planning now owns 12,672 shares of the business services provider’s stock worth $1,324,000 after buying an additional 6,855 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.