Avis Budget Group (NASDAQ:CAR) Stock Rating Upgraded by StockNews.com

Avis Budget Group (NASDAQ:CAR) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other brokerages have also recently weighed in on CAR. Susquehanna decreased their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group decreased their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Barclays assumed coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Avis Budget Group Price Performance

CAR traded down $1.79 during trading on Monday, hitting $90.27. The company’s stock had a trading volume of 974,370 shares, compared to its average volume of 722,595. Avis Budget Group has a twelve month low of $65.73 and a twelve month high of $204.77. The firm’s 50 day moving average price is $82.01 and its 200-day moving average price is $96.54. The stock has a market cap of $3.22 billion, a PE ratio of 8.24 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 89.12%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the firm earned $16.78 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts anticipate that Avis Budget Group will post 6.66 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

A number of institutional investors have recently modified their holdings of CAR. EntryPoint Capital LLC raised its stake in Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after acquiring an additional 124 shares during the period. Central Valley Advisors LLC acquired a new stake in shares of Avis Budget Group in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Avis Budget Group by 198.3% in the third 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 period. Nisa Investment Advisors LLC increased its stake in shares of Avis Budget Group by 293.3% in the third 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 increased 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 valued at $75,000 after purchasing an additional 459 shares during the period. 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.