Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $192.67 and last traded at $193.34, with a volume of 985905 shares changing hands. The stock had previously closed at $177.80.
Analyst Ratings Changes
CAR has been the subject of several recent research reports. Wall Street Zen raised Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. The Goldman Sachs Group reduced their price target on 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $196.00 target price (up from $130.00) on shares of Avis Budget Group in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $127.60.
View Our Latest Stock Report on Avis Budget Group
Avis Budget Group Trading Up 6.9%
The stock has a fifty day simple moving average of $130.48 and a two-hundred day simple moving average of $97.50. The company has a market cap of $6.69 billion, a PE ratio of -3.01 and a beta of 2.19.
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 the consensus estimate of ($5.72) by ($8.63). The firm had revenue of $2.43 billion for 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%. Avis Budget Group's revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned ($3.21) EPS. As a group, equities research analysts anticipate that Avis Budget Group, Inc. will post 8.91 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CAR. Wealth Enhancement Advisory Services LLC acquired a new position in Avis Budget Group in the 2nd quarter valued at $268,000. Wedmont Private Capital acquired a new position in Avis Budget Group in the 2nd quarter valued at $272,000. Parallel Advisors LLC raised its holdings in Avis Budget Group by 233.5% in the 2nd quarter. Parallel Advisors LLC now owns 527 shares of the business services provider's stock valued at $89,000 after acquiring an additional 369 shares during the last quarter. Rhumbline Advisers raised its holdings in Avis Budget Group by 8.9% in the 1st quarter. Rhumbline Advisers now owns 53,842 shares of the business services provider's stock valued at $4,087,000 after acquiring an additional 4,382 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Avis Budget Group by 81.4% in the 1st quarter. Intech Investment Management LLC now owns 109,646 shares of the business services provider's stock valued at $8,322,000 after acquiring an additional 49,187 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.
About Avis Budget Group
(
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.
Further Reading
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