StockNews.com Downgrades Avis Budget Group (NASDAQ:CAR) to Sell

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

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Avis Budget Group from a sell rating to a neutral rating and raised their price objective for the company from $118.00 to $130.00 in a research report on Thursday, April 4th. Northcoast Research raised Avis Budget Group from a neutral rating to a buy rating and set a $155.00 price target for the company in a research note on Monday, March 25th. Bank of America reduced their price objective on Avis Budget Group from $170.00 to $140.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their target price on 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. Finally, Susquehanna reduced their price target on shares of Avis Budget Group from $145.00 to $117.00 and set a neutral rating on the stock in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Avis Budget Group has an average rating of Moderate Buy and a consensus price target of $164.57.

Avis Budget Group Stock Up 0.0 %

CAR opened at $102.03 on Friday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 3.22 and a beta of 2.21. The firm has a 50-day moving average price of $111.23 and a 200-day moving average price of $126.05. Avis Budget Group has a twelve month low of $93.53 and a twelve month high of $244.95.

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 analysts’ consensus estimates 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 analysts’ expectations of $2.41 billion. During the same period last year, the company posted $7.72 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts expect that Avis Budget Group will post 12.4 earnings per share for the current fiscal year.

Institutional Trading of Avis Budget Group

Institutional investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP increased its position in shares of Avis Budget Group by 4.8% during the 4th quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock valued at $231,000 after purchasing an additional 60 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Avis Budget Group by 3.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider’s stock worth $450,000 after acquiring an additional 79 shares during the period. New York Life Investment Management LLC lifted its holdings 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 valued at $401,000 after purchasing an additional 87 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Avis Budget Group by 1.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the business services provider’s stock valued at $649,000 after buying an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Avis Budget Group by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock worth $560,000 after buying an additional 100 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.