Avis Budget Group (NASDAQ:CAR) Trading Up 5.9% - What's Next?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) were up 5.9% during trading on Monday . The company traded as high as $141.11 and last traded at $142.32. Approximately 499,895 shares changed hands during trading, a decline of 47% from the average daily volume of 935,444 shares. The stock had previously closed at $134.44.

Wall Street Analyst Weigh In

A number of analysts recently commented on CAR shares. JPMorgan Chase & Co. upped 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. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, The Goldman Sachs Group dropped their target price on Avis Budget Group from $100.00 to $87.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group presently has an average rating of "Hold" and an average target price of $117.00.

Avis Budget Group Stock Up 16.9%

The company has a market cap of $6.05 billion, a PE ratio of -2.73 and a beta of 2.11. The stock has a 50-day moving average of $110.68 and a 200-day moving average of $90.99.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last released its quarterly 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). Avis Budget Group had a negative net margin of 18.96% and a negative return on equity of 14.74%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the business earned ($3.21) EPS. The business's revenue was down 4.7% on a year-over-year basis. Research analysts expect that Avis Budget Group, Inc. will post 8.91 EPS for the current year.

Institutional Investors Weigh In On Avis Budget Group

Large investors have recently added to or reduced their stakes in the company. Steadfast Capital Management LP purchased a new position in Avis Budget Group in the 4th quarter worth $25,747,000. Mizuho Markets Americas LLC purchased a new position in shares of Avis Budget Group in the first quarter worth about $18,975,000. National Bank of Canada FI increased its holdings in shares of Avis Budget Group by 266.7% in the fourth quarter. National Bank of Canada FI now owns 330,000 shares of the business services provider's stock worth $26,601,000 after buying an additional 240,000 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Avis Budget Group by 93.2% in the fourth quarter. Nomura Holdings Inc. now owns 490,473 shares of the business services provider's stock worth $39,537,000 after buying an additional 236,576 shares during the period. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Avis Budget Group by 1,391.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 253,200 shares of the business services provider's stock worth $20,410,000 after buying an additional 236,218 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

About Avis Budget Group

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.