Avis Budget Group (NASDAQ:CAR) Hits New 52-Week High - Should You Buy?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $130.28 and last traded at $129.17, with a volume of 98555 shares traded. The stock had previously closed at $127.81.

Analysts Set New Price Targets

CAR has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wall Street Zen raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Avis Budget Group from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $117.00.

Avis Budget Group Price Performance

The stock's 50 day simple moving average is $103.52 and its two-hundred day simple moving average is $89.59. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -2.08 and a beta of 2.11.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released 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). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative net margin of 18.96% and a negative return on equity of 14.74%. The business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.21) earnings per share. As a group, analysts predict that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Institutional Trading of Avis Budget Group

Large investors have recently modified their holdings of the stock. Amalgamated Bank raised its position in shares of Avis Budget Group by 2.0% during the fourth quarter. Amalgamated Bank now owns 7,973 shares of the business services provider's stock worth $643,000 after acquiring an additional 155 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Avis Budget Group by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider's stock worth $579,000 after purchasing an additional 160 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Avis Budget Group by 41.0% in the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after purchasing an additional 198 shares during the last quarter. Xponance Inc. boosted its position in Avis Budget Group by 7.8% during the first quarter. Xponance Inc. now owns 2,922 shares of the business services provider's stock worth $222,000 after purchasing an additional 211 shares during the period. Finally, Sterling Capital Management LLC boosted its position in Avis Budget Group by 41.3% during the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock worth $59,000 after purchasing an additional 215 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

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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