Analysts Set Avis Budget Group, Inc. (NASDAQ:CAR) Price Target at $163.14

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $163.14.

CAR has been the subject of several analyst reports. StockNews.com cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. The Goldman Sachs Group cut their price objective on shares of Avis Budget Group from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Bank of America decreased their target price on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley cut their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Finally, Susquehanna decreased their price objective on Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Central Valley Advisors LLC acquired a new stake in shares of Avis Budget Group during the second quarter worth about $25,000. Denali Advisors LLC increased its stake in Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after buying an additional 112 shares during the period. EntryPoint Capital LLC lifted its holdings in Avis Budget Group by 119.2% during the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after buying an additional 124 shares in the last quarter. TFO Wealth Partners LLC boosted its position in Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after buying an additional 311 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after acquiring an additional 459 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 6.4 %

Shares of NASDAQ CAR opened at $94.50 on Friday. The company has a 50-day moving average of $106.53 and a 200 day moving average of $118.56. Avis Budget Group has a 12-month low of $93.53 and a 12-month high of $235.64. The stock has a market cap of $3.37 billion, a PE ratio of 2.98 and a beta of 2.21.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $7.72 earnings per share. Avis Budget Group’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts forecast that Avis Budget Group will post 12.4 EPS for the current fiscal year.

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.