Avis Budget Group, Inc. (NASDAQ:CAR – Get Free Report) has received an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $237.60.
A number of research firms recently commented on CAR. Morgan Stanley reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Avis Budget Group in a research note on Friday, August 4th. JPMorgan Chase & Co. raised their price target on Avis Budget Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Finally, StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd.
Avis Budget Group Price Performance
Avis Budget Group (NASDAQ:CAR – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $16.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.54 by $2.24. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Avis Budget Group had a negative return on equity of 559.82% and a net margin of 14.95%. Avis Budget Group’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $21.70 earnings per share. As a group, equities research analysts anticipate that Avis Budget Group will post 38.86 EPS for the current year.
Institutional Trading of Avis Budget Group
Several hedge funds have recently added to or reduced their stakes in CAR. Lazard Asset Management LLC raised its stake in shares of Avis Budget Group by 8.8% in the 4th 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 raised its stake in shares of Avis Budget Group by 3.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,699 shares of the business services provider’s stock worth $389,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Avis Budget Group by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 6,226 shares of the business services provider’s stock worth $1,119,000 after buying an additional 84 shares in the last quarter. Invst LLC raised its stake in shares of Avis Budget Group by 2.4% in the 2nd quarter. Invst LLC now owns 3,635 shares of the business services provider’s stock worth $831,000 after buying an additional 85 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Avis Budget Group by 2.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,270 shares of the business services provider’s stock worth $767,000 after purchasing an additional 89 shares during the period. Institutional investors own 98.26% 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; the Budget Truck brand, 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 approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.
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