Avis Budget Group (NASDAQ:CAR) Sees Strong Trading Volume

Avis Budget Group, Inc. (NASDAQ:CAR - Get Free Report) shares saw an uptick in trading volume on Thursday . 346,247 shares changed hands during trading, a decline of 58% from the previous session's volume of 826,039 shares.The stock last traded at $123.98 and had previously closed at $121.11.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAR. Morgan Stanley decreased their target price on shares of Avis Budget Group from $230.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, February 23rd. Susquehanna decreased their price objective on shares of Avis Budget Group from $195.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, February 14th. The Goldman Sachs Group upgraded shares of Avis Budget Group from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Thursday. Bank of America initiated coverage on Avis Budget Group in a report on Tuesday, March 19th. They set a "buy" rating and a $170.00 target price on the stock. Finally, Northcoast Research raised shares of Avis Budget Group from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $182.57.

Avis Budget Group Trading Down 0.7 %

The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 2.82 and a beta of 2.22. The stock has a fifty day moving average price of $126.11 and a 200-day moving average price of $160.99.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $2.95. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. Avis Budget Group's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $10.46 earnings per share. On average, equities analysts expect that Avis Budget Group, Inc. will post 15.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC grew its holdings in Avis Budget Group by 8.8% during the fourth quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider's stock worth $87,000 after buying an additional 43 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Avis Budget Group by 3.0% in the second quarter. Captrust Financial Advisors now owns 1,699 shares of the business services provider's stock worth $389,000 after purchasing an additional 50 shares during the period. Aigen Investment Management LP raised its holdings in shares of Avis Budget Group by 4.8% in the 4th quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider's stock valued at $231,000 after acquiring an additional 60 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Avis Budget Group by 3.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider's stock worth $450,000 after buying an additional 79 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Avis Budget Group by 1.4% during the third quarter. Arizona State Retirement System now owns 6,226 shares of the business services provider's stock valued at $1,119,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.