Avis Budget Group (NASDAQ:CAR) Given Sell Rating at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group downgraded Avis Budget Group's stock rating from "neutral" to "sell," lowering the price target to $105.00, indicating a potential downside of 38.32% from its current price.
• Other analysts have mixed views, with JPMorgan restating a "neutral" rating at a target of $155.00, while Deutsche Bank upgraded to "buy" with a target of $196.00.
• Avis Budget Group reported earnings of $0.10 per share for the last quarter, significantly missing analysts' expectations of $2.02, alongside a negative net margin of 19.06%.

The Goldman Sachs Group reiterated their sell rating on shares of Avis Budget Group (NASDAQ:CAR - Free Report) in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has a $105.00 target price on the business services provider's stock, up from their previous target price of $87.00.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $196.00 price target (up previously from $130.00) on shares of Avis Budget Group in a research note on Thursday, July 10th. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $155.00 price target on shares of Avis Budget Group in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $140.20.

Avis Budget Group Trading Down 0.6%

Shares of NASDAQ:CAR traded down $1.01 during trading on Friday, reaching $159.45. 677,093 shares of the stock were exchanged, compared to its average volume of 1,311,069. Avis Budget Group has a 12 month low of $54.03 and a 12 month high of $212.81. The firm has a market cap of $5.61 billion, a PE ratio of -2.52 and a beta of 2.19. The stock has a 50-day moving average price of $161.03 and a 200-day moving average price of $111.17.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $2.02 by ($1.92). Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 19.06%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Avis Budget Group will post 8.91 earnings per share for the current fiscal year.

Institutional Trading of Avis Budget Group

Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in Avis Budget Group by 32.6% during the second quarter. Fifth Third Bancorp now owns 228 shares of the business services provider's stock worth $39,000 after buying an additional 56 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Avis Budget Group by 2.5% during the second quarter. State of Michigan Retirement System now owns 4,073 shares of the business services provider's stock worth $689,000 after acquiring an additional 100 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Avis Budget Group by 0.6% during the second quarter. Retirement Systems of Alabama now owns 20,646 shares of the business services provider's stock worth $3,490,000 after acquiring an additional 117 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Avis Budget Group by 2.1% during the first quarter. SummerHaven Investment Management LLC now owns 7,623 shares of the business services provider's stock worth $579,000 after acquiring an additional 160 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Avis Budget Group by 41.0% during the fourth quarter. Quadrant Capital Group LLC now owns 681 shares of the business services provider's stock worth $55,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

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.