The Goldman Sachs Group Raises Avis Budget Group (NASDAQ:CAR) Price Target to $95.00

Avis Budget Group (NASDAQ:CAR) had its price target increased by investment analysts at The Goldman Sachs Group from $85.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 5.20% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays began coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price target on the stock. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Down 2.2 %

NASDAQ CAR opened at $100.21 on Tuesday. The company has a market cap of $3.52 billion, a PE ratio of 9.15 and a beta of 2.20. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $204.77. The firm’s 50-day simple moving average is $92.92 and its two-hundred day simple moving average is $94.67.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate of $8.55 by ($1.90). The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. Avis Budget Group’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $16.78 earnings per share. As a group, equities research analysts anticipate that Avis Budget Group will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAR. Strategic Investment Solutions Inc. IL grew its position in Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 240 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 305 shares during the last quarter. Signaturefd LLC grew its position in Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Avis Budget Group during the second quarter valued at approximately $75,000. Finally, Carolina Wealth Advisors LLC grew its position in Avis Budget Group by 184.5% during the third quarter. Carolina Wealth Advisors LLC now owns 1,118 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 725 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

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.