Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Price Target at $117.00

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) has earned a consensus recommendation of "Hold" from the six research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $127.60.

A number of equities research analysts have recently commented on CAR shares. The Goldman Sachs Group cut their price target on shares of Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Wall Street Zen upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $196.00 target price (up from $130.00) on shares of Avis Budget Group in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th.

Avis Budget Group Stock Performance

Avis Budget Group stock traded up $2.19 during mid-day trading on Wednesday, reaching $191.38. The company's stock had a trading volume of 1,084,894 shares, compared to its average volume of 999,278. Avis Budget Group has a 12-month low of $54.03 and a 12-month high of $194.94. The company has a market capitalization of $6.73 billion, a P/E ratio of -3.04 and a beta of 2.19. The firm's fifty day moving average price is $134.31 and its two-hundred day moving average price is $99.12.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share 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 business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned ($3.21) earnings per share. The business's revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts predict that Avis Budget Group will post 8.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

A number of institutional investors have recently bought and sold shares of CAR. Steadfast Capital Management LP acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at about $25,747,000. Mizuho Markets Americas LLC purchased a new stake in shares of Avis Budget Group during the 1st quarter worth approximately $18,975,000. National Bank of Canada FI lifted its position in shares of Avis Budget Group by 266.7% during the 4th quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock worth $26,601,000 after buying an additional 240,000 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Avis Budget Group by 93.2% during the 4th quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider's stock worth $39,537,000 after purchasing an additional 236,576 shares during the period. Finally, Jefferies Financial Group Inc. boosted its stake in Avis Budget Group by 1,391.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after purchasing an additional 236,218 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.