Avis Budget Group, Inc. (NASDAQ:CAR) Given Average Rating of "Hold" by Analysts

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) has been assigned an average rating of "Hold" from the six ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $117.00.

Several research analysts recently issued reports on CAR shares. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. The Goldman Sachs Group cut their price objective on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th.

Institutional Trading of Avis Budget Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAR. Parallel Advisors LLC grew its stake in shares of Avis Budget Group by 233.5% during the 2nd quarter. Parallel Advisors LLC now owns 527 shares of the business services provider's stock valued at $89,000 after buying an additional 369 shares during the period. Rhumbline Advisers grew its stake in shares of Avis Budget Group by 8.9% during the 1st quarter. Rhumbline Advisers now owns 53,842 shares of the business services provider's stock valued at $4,087,000 after buying an additional 4,382 shares during the period. Intech Investment Management LLC grew its stake in shares of Avis Budget Group by 81.4% during the 1st quarter. Intech Investment Management LLC now owns 109,646 shares of the business services provider's stock valued at $8,322,000 after buying an additional 49,187 shares during the period. Bayforest Capital Ltd grew its stake in shares of Avis Budget Group by 193.2% during the 1st quarter. Bayforest Capital Ltd now owns 9,028 shares of the business services provider's stock valued at $685,000 after buying an additional 5,949 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Avis Budget Group by 16.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,023 shares of the business services provider's stock valued at $4,935,000 after buying an additional 9,246 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 1.7%

CAR stock opened at $178.52 on Wednesday. The firm has a 50 day moving average of $128.78 and a 200-day moving average of $96.94. Avis Budget Group has a 12-month low of $54.03 and a 12-month high of $189.98. The company has a market cap of $6.28 billion, a price-to-earnings ratio of -2.84 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 18.96%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm earned ($3.21) earnings per share. The company's revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Avis Budget Group will post 8.91 earnings per share for the current fiscal year.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.

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