Avis Budget Group (NASDAQ:CAR) Earns Equal Weight Rating from Analysts at Barclays

Barclays started coverage on shares of Avis Budget Group (NASDAQ:CAR) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $105.00 target price on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Susquehanna cut their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a neutral rating on the stock in a report on Friday, August 9th. StockNews.com downgraded shares of Avis Budget Group from a hold rating to a sell rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut their target price on Avis Budget Group from $155.00 to $146.00 and set a buy rating on the stock in a research note on Friday, August 30th. Finally, The Goldman Sachs Group lowered their price target on Avis Budget Group from $120.00 to $105.00 and set a neutral rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $138.50.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $85.90 on Thursday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 2.71 and a beta of 2.14. The company has a fifty day moving average of $88.09 and a 200-day moving average of $103.37. Avis Budget Group has a 52-week low of $65.73 and a 52-week high of $204.77.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $2.60 by ($2.19). The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $11.01 EPS. On average, equities research analysts forecast that Avis Budget Group will post 7.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CAR. Aigen Investment Management LP grew its stake in 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 shares of Avis Budget Group by 3.2% in 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 in the last quarter. State of Michigan Retirement System lifted its position in Avis Budget Group by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock valued at $560,000 after acquiring an additional 100 shares during the period. Denali Advisors LLC boosted 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 in the last quarter. Finally, EntryPoint Capital LLC grew its holdings 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 purchasing an additional 124 shares during the period. 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.