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

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) has been assigned an average rating of "Hold" from the six analysts that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $117.00.

Several research analysts have recently weighed in on CAR shares. The Goldman Sachs Group lowered 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 research report on Friday, May 9th. Wall Street Zen upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Avis Budget Group from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Friday, May 9th.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC boosted its holdings in Avis Budget Group by 2.5% during the 4th quarter. Yousif Capital Management LLC now owns 7,592 shares of the business services provider's stock valued at $612,000 after acquiring an additional 187 shares during the period. Empowered Funds LLC acquired a new stake in shares of Avis Budget Group during the fourth quarter worth about $275,000. Entropy Technologies LP purchased a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $280,000. Rhumbline Advisers grew its holdings in shares of Avis Budget Group by 1.4% in the fourth quarter. Rhumbline Advisers now owns 49,460 shares of the business services provider's stock valued at $3,987,000 after purchasing an additional 703 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $2,999,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

CAR traded up $0.27 on Friday, reaching $127.81. 1,148,984 shares of the company's stock were exchanged, compared to its average volume of 932,221. Avis Budget Group has a twelve month low of $54.03 and a twelve month high of $131.67. The stock has a market cap of $4.50 billion, a PE ratio of -2.03 and a beta of 2.11. The stock's fifty day moving average price is $103.52 and its 200-day moving average price is $89.59.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($5.72) by ($8.63). Avis Budget Group had a negative net margin of 18.96% and a negative return on equity of 14.74%. The company had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the company earned ($3.21) earnings per share. Avis Budget Group's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, research analysts predict that Avis Budget Group will post 8.91 earnings per share for the current fiscal year.

About Avis Budget Group

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.