Avis Budget Group (NASDAQ:CAR) Reaches New 52-Week High - Still a Buy?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $127.44 and last traded at $126.78, with a volume of 84158 shares trading hands. The stock had previously closed at $123.00.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAR. Wall Street Zen upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. lifted 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 report on Friday, May 9th. Finally, 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 for the company in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $117.00.

Avis Budget Group Price Performance

The firm's 50 day moving average price is $95.65 and its 200-day moving average price is $88.56. The stock has a market cap of $4.49 billion, a P/E ratio of -2.45 and a beta of 2.11.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported ($14.35) EPS for the quarter, missing analysts' consensus estimates of ($5.72) by ($8.63). The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.49 billion. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. The business's revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.21) earnings per share. On average, analysts expect that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Institutional Trading of Avis Budget Group

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

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