Avis Budget Group (NASDAQ:CAR) Rating Lowered to “Neutral” at Northcoast Research

Northcoast Research cut shares of Avis Budget Group (NASDAQ:CAR) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports.

Several other equities research analysts also recently weighed in on CAR. The Goldman Sachs Group cut their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. Finally, Susquehanna decreased their price objective on 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $133.13.

Avis Budget Group Stock Up 2.6 %

CAR opened at $101.64 on Monday. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $204.77. The business has a fifty day simple moving average of $87.42 and a 200-day simple moving average of $96.20. The firm has a market cap of $3.57 billion, a P/E ratio of 9.28 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 3.34% and a negative return on equity of 101.41%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $16.78 earnings per share. Sell-side analysts expect that Avis Budget Group will post 5.24 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC lifted 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 valued at $28,000 after acquiring an additional 124 shares during the last quarter. Central Valley Advisors LLC acquired a new stake in shares of Avis Budget Group during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 240 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 305 shares during the period. Finally, Signaturefd LLC grew its stake in Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares during the last quarter. Hedge funds and other institutional investors 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.