Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) shares 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 changing hands. The stock had previously closed at $127.81.
Analysts Set New Price Targets
Several analysts have recently commented on CAR shares. Wall Street Zen raised shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. The Goldman Sachs Group decreased 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 note on Friday, May 9th. 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $117.00.
View Our Latest Stock Analysis on Avis Budget Group
Avis Budget Group Stock Up 3.5%
The company's fifty day simple moving average is $107.12 and its two-hundred day simple moving average is $90.17. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -2.14 and a beta of 2.11.
Avis Budget Group (NASDAQ:CAR - Get Free Report) last posted its 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). The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 18.96%. The company's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted ($3.21) earnings per share. Equities research analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.
Institutional Investors Weigh In On Avis Budget Group
Hedge funds have recently bought and sold shares of the company. Amalgamated Bank raised its holdings 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 period. SummerHaven Investment Management LLC grew 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 valued at $579,000 after purchasing an additional 160 shares in the last quarter. Quadrant Capital Group LLC grew 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 valued at $55,000 after purchasing an additional 198 shares in the last quarter. Xponance Inc. grew its position in Avis Budget Group by 7.8% in the first quarter. Xponance Inc. now owns 2,922 shares of the business services provider's stock valued at $222,000 after purchasing an additional 211 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Avis Budget Group by 41.3% in the fourth quarter. Sterling Capital Management LLC now owns 736 shares of the business services provider's stock valued at $59,000 after purchasing an additional 215 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.
Avis Budget Group Company Profile
(
Get Free Report)
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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