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

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $200.41 and last traded at $199.53, with a volume of 875081 shares. The stock had previously closed at $190.08.

Analyst Ratings Changes

Several analysts recently weighed in on CAR shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $196.00 price objective (up from $130.00) on shares of Avis Budget Group in a research report on Thursday, July 10th. Wall Street Zen raised Avis Budget Group from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. The Goldman Sachs Group cut their target price on 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 Avis Budget Group from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Avis Budget Group has a consensus rating of "Hold" and a consensus price target of $127.60.

Avis Budget Group Stock Down 0.4%

The firm has a market cap of $7.28 billion, a price-to-earnings ratio of -3.28 and a beta of 2.19. The company has a 50-day moving average price of $153.31 and a 200 day moving average price of $106.99.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported ($14.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.72) by ($8.63). The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations 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 firm's revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted ($3.21) earnings per share. Equities analysts forecast that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CAR. Crossmark Global Holdings Inc. purchased a new position in shares of Avis Budget Group during the 1st quarter valued at $274,000. Captrust Financial Advisors purchased a new stake in shares of Avis Budget Group during the 4th quarter worth about $460,000. Northern Trust Corp grew its stake in shares of Avis Budget Group by 21.0% in the 4th quarter. Northern Trust Corp now owns 156,176 shares of the business services provider's stock valued at $12,589,000 after buying an additional 27,127 shares in the last quarter. Norges Bank bought a new position in Avis Budget Group during the fourth quarter valued at approximately $11,234,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Avis Budget Group in the first quarter worth approximately $221,000. Institutional investors and hedge funds 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.