Avis Budget Group, Inc. (NASDAQ:CAR) Receives $163.14 Consensus PT from Analysts

Avis Budget Group, Inc. (NASDAQ:CAR) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $163.14.

Several research firms have recently weighed in on CAR. Susquehanna reduced their price objective on Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group dropped their price objective on shares of Avis Budget Group from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. Morgan Stanley lowered their price target on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Finally, Bank of America reduced their price objective on Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Avis Budget Group Stock Performance

Shares of CAR opened at $94.50 on Friday. Avis Budget Group has a fifty-two week low of $93.53 and a fifty-two week high of $235.64. The stock has a fifty day moving average of $106.53 and a two-hundred day moving average of $118.56. The company has a market capitalization of $3.37 billion, a PE ratio of 2.98 and a beta of 2.21.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company earned $7.72 EPS. The company’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts forecast that Avis Budget Group will post 12.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

Several hedge funds and other institutional investors have recently modified their holdings of CAR. Central Valley Advisors LLC acquired a new position in Avis Budget Group during the 2nd quarter worth $25,000. Denali Advisors LLC lifted its holdings in Avis Budget Group by 94.1% in the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after purchasing an additional 112 shares during the period. EntryPoint Capital LLC grew its position in Avis Budget Group by 119.2% in 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% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after buying an additional 311 shares during the period. Finally, Signaturefd LLC raised its position in shares of Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares in 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.