Avis Budget Group (NASDAQ:CAR) Price Target Lowered to $105.00 at The Goldman Sachs Group

Avis Budget Group (NASDAQ:CAR) had its price objective reduced by stock analysts at The Goldman Sachs Group from $120.00 to $105.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 20.75% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Susquehanna dropped their target price on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley dropped their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.57.

Avis Budget Group Price Performance

Shares of CAR traded down $2.33 on Thursday, hitting $86.96. The company’s stock had a trading volume of 454,982 shares, compared to its average volume of 752,990. The company has a market capitalization of $3.10 billion, a PE ratio of 2.74 and a beta of 2.21. Avis Budget Group has a fifty-two week low of $79.03 and a fifty-two week high of $235.64. The company has a 50 day moving average price of $103.50 and a 200 day moving average price of $115.37.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data 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). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $11.01 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Avis Budget Group will post 12.28 EPS for the current year.

Institutional Trading of Avis Budget Group

Large investors have recently made changes to their positions in the company. Aigen Investment Management LP boosted its stake in Avis Budget Group by 4.8% in the 4th quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock worth $231,000 after purchasing an additional 60 shares during the period. Janney Montgomery Scott LLC boosted its stake in Avis Budget Group by 3.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider’s stock worth $450,000 after purchasing an additional 79 shares during the period. New York Life Investment Management LLC boosted its stake in Avis Budget Group by 4.0% in the 4th quarter. New York Life Investment Management LLC now owns 2,265 shares of the business services provider’s stock worth $401,000 after purchasing an additional 87 shares during the period. Louisiana State Employees Retirement System boosted its stake in Avis Budget Group by 1.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the business services provider’s stock worth $649,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Avis Budget Group by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock worth $560,000 after purchasing an additional 100 shares during the period. Institutional investors own 96.35% of the company’s stock.

About Avis Budget Group

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.