Avis Budget Group (NASDAQ:CAR) Shares Down 5.4% – Should You Sell?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) were down 5.4% during mid-day trading on Tuesday . The company traded as low as $100.12 and last traded at $100.25. Approximately 151,065 shares changed hands during trading, a decline of 79% from the average daily volume of 714,960 shares. The stock had previously closed at $105.93.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAR. JPMorgan Chase & Co. lowered their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut 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. Susquehanna lowered their target price on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Finally, StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Hold” and an average price target of $133.13.

Avis Budget Group Trading Down 4.3 %

The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 9.11 and a beta of 2.20. The company has a fifty day moving average price of $91.41 and a 200-day moving average price of $95.15.

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

Institutional Trading of Avis Budget Group

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Avis Budget Group by 19,203.5% during the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after acquiring an additional 478,552 shares in the last quarter. Rubric Capital Management LP lifted its position in Avis Budget Group by 220.9% during the second quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock worth $72,147,000 after buying an additional 475,181 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Avis Budget Group during the second quarter worth $19,978,000. FMR LLC increased its stake in shares of Avis Budget Group by 4.0% in the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after acquiring an additional 129,805 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in shares of Avis Budget Group during the 2nd quarter worth $10,452,000. Institutional investors and hedge funds 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.