Avis Budget Group, Inc. (NASDAQ:CAR) Stock Has Average Target Price of $135.00 According to Analysts

Key Points

• Analysts maintain a cautious view of Avis Budget Group, with three sell ratings and six hold ratings producing a consensus “Reduce” rating. The average 12-month price target is $135.00.
• Shares opened at $106.12, below both the average analyst target and their 50-day moving average of $133.25, while trading down 0.5%.
• The company’s latest quarterly results missed expectations, reporting $0.98 in EPS versus the $2.05 consensus estimate and revenue of $3.0 billion versus $3.1 billion expected.

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) has earned a consensus rating of "Reduce" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $135.00.

Several research analysts have issued reports on the company. Wall Street Zen cut Avis Budget Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Avis Budget Group in a research report on Monday, August 17th. JPMorgan Chase & Co. increased their target price on Avis Budget Group from $155.00 to $170.00 and gave the stock an "underweight" rating in a report on Tuesday, June 23rd. Barclays set a $160.00 price target on shares of Avis Budget Group and gave the company an "equal weight" rating in a research report on Monday, June 8th. Finally, Morgan Stanley decreased their price target on shares of Avis Budget Group from $99.00 to $95.00 and set an "equal weight" rating for the company in a research note on Friday, September 11th.

Avis Budget Group Trading Down 0.5%

Shares of NASDAQ CAR opened at $106.12 on Friday. The firm has a market capitalization of $3.75 billion, a P/E ratio of -5.84 and a beta of 2.13. The firm's 50-day moving average price is $133.25 and its 200-day moving average price is $173.37. Avis Budget Group has a 1-year low of $85.96 and a 1-year high of $847.70.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $0.98 EPS for the quarter, missing the consensus estimate of $2.05 by ($1.07). The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted $0.10 EPS. Avis Budget Group's revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts forecast that Avis Budget Group will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in Avis Budget Group by 1,845.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider's stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Hollencrest Capital Management bought a new stake in Avis Budget Group during the 1st quarter worth approximately $44,000. Hantz Financial Services Inc. raised its stake in shares of Avis Budget Group by 70.4% in the fourth quarter. Hantz Financial Services Inc. now owns 431 shares of the business services provider's stock worth $55,000 after purchasing an additional 178 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Avis Budget Group in the second quarter worth approximately $77,000. Finally, Nykredit A S bought a new position in shares of Avis Budget Group in the second quarter valued at approximately $80,000. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Company Profile

Avis Budget Group, Inc is a global provider of vehicle rental and mobility services. The company operates through a portfolio of brands that includes Avis, Budget, Payless and Zipcar, offering cars, vans and other vehicles to leisure and business customers.

Avis and Budget provide short-term vehicle rentals through airport and neighborhood locations, while Payless focuses on value-oriented rental services. Zipcar operates a car-sharing network that allows members to reserve vehicles by the hour or day.

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