Avis Budget Group (NASDAQ:CAR) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Avis Budget Group (NASDAQ:CAR) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other analysts have also recently commented on CAR. Morgan Stanley lowered 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 note on Wednesday, April 10th. Northcoast Research raised shares of Avis Budget Group from a neutral rating to a buy rating and set a $155.00 price objective for the company in a research note on Monday, March 25th. The Goldman Sachs Group raised shares of Avis Budget Group from a sell rating to a neutral rating and upped their price target for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Bank of America decreased their price target on shares of Avis Budget Group from $170.00 to $140.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Avis Budget Group currently has an average rating of Moderate Buy and an average price target of $164.57.

Avis Budget Group Trading Up 0.5 %

CAR stock opened at $112.38 on Tuesday. The firm has a 50 day moving average of $110.53 and a 200-day moving average of $133.90. Avis Budget Group has a 12-month low of $93.53 and a 12-month high of $244.95. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 3.55 and a beta of 2.26.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm earned $7.72 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts forecast that Avis Budget Group will post 12.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

A number of institutional investors have recently modified their holdings of CAR. Denali Advisors LLC raised its stake in Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after acquiring an additional 112 shares during the period. EntryPoint Capital LLC grew its position in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after buying an additional 124 shares during the last quarter. TFO Wealth Partners LLC grew its position in Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC acquired a new position in Avis Budget Group in the fourth quarter worth approximately $79,000. Finally, Covestor Ltd grew its position in Avis Budget Group by 733.9% in the third quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after buying an additional 455 shares during 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.