Crossmark Global Holdings Inc. Takes Position in Avis Budget Group, Inc. (NASDAQ:CAR)

Crossmark Global Holdings Inc. bought a new position in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,616 shares of the business services provider's stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAR. Steadfast Capital Management LP purchased a new position in shares of Avis Budget Group in the 4th quarter worth $25,747,000. National Bank of Canada FI boosted its stake in shares of Avis Budget Group by 266.7% in the 4th 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 last quarter. Nomura Holdings Inc. boosted its stake in shares of Avis Budget Group by 93.2% in the 4th 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 last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Avis Budget Group by 1,391.0% in the 4th 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 last quarter. Finally, Norges Bank purchased a new position in shares of Avis Budget Group in the 4th quarter worth $11,234,000. Institutional investors own 96.35% of the company's stock.

Analyst Ratings Changes

CAR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated 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, July 10th. The Goldman Sachs Group lowered 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. Wall Street Zen upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, JPMorgan Chase & Co. lifted 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $127.60.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock traded up $4.36 during trading hours on Thursday, hitting $196.09. The company's stock had a trading volume of 650,729 shares, compared to its average volume of 1,002,545. The business has a 50 day moving average price of $141.91 and a two-hundred day moving average price of $102.11. Avis Budget Group, Inc. has a 12-month low of $54.03 and a 12-month high of $198.52. The company has a market cap of $6.90 billion, a PE ratio of -3.12 and a beta of 2.19.

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) EPS 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 quarter in the previous year, the firm earned ($3.21) earnings per share. Avis Budget Group's revenue was down 4.7% on a year-over-year basis. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 8.91 earnings per share for the current year.

Avis Budget Group 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.