Avis Budget Group, Inc. (NASDAQ:CAR) Receives $172.86 Consensus Price Target from Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $172.86.

Several research firms recently weighed in on CAR. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and raised their target price for the company from $118.00 to $130.00 in a research note on Thursday, April 4th. JPMorgan Chase & Co. dropped their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Northcoast Research raised Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Monday, March 25th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th.

Avis Budget Group Stock Down 3.6 %

Shares of CAR opened at $99.57 on Friday. Avis Budget Group has a twelve month low of $93.53 and a twelve month high of $244.95. The stock has a market capitalization of $3.55 billion, a P/E ratio of 2.34 and a beta of 2.22. The company has a 50 day moving average of $111.89 and a 200-day moving average of $153.66.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping the consensus estimate of $4.15 by $2.95. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.46 EPS. On average, sell-side analysts anticipate that Avis Budget Group will post 14.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAR. Aigen Investment Management LP increased its position in shares of Avis Budget Group by 4.8% in the fourth 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 increased its stake in Avis Budget Group by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider’s stock valued at $450,000 after acquiring an additional 79 shares during the last quarter. Arizona State Retirement System raised its position in Avis Budget Group by 1.4% during the third quarter. Arizona State Retirement System now owns 6,226 shares of the business services provider’s stock valued at $1,119,000 after purchasing an additional 84 shares in the last quarter. New York Life Investment Management LLC lifted its stake in Avis Budget Group by 4.0% during the fourth 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 last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Avis Budget Group by 2.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,270 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 89 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.