Arizona State Retirement System Sells 270 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

Arizona State Retirement System lowered its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,956 shares of the business services provider’s stock after selling 270 shares during the quarter. Arizona State Retirement System’s holdings in Avis Budget Group were worth $1,056,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its stake in Avis Budget Group by 33.3% in the third quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock worth $13,060,000 after purchasing an additional 18,167 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Avis Budget Group by 165.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 15,943 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Avis Budget Group by 274.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 6,234 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Avis Budget Group by 26.2% during the third quarter. AQR Capital Management LLC now owns 39,080 shares of the business services provider’s stock valued at $7,022,000 after acquiring an additional 8,115 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Avis Budget Group by 9.8% during the third quarter. Barclays PLC now owns 190,582 shares of the business services provider’s stock valued at $34,242,000 after acquiring an additional 17,082 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Down 2.5 %

Shares of CAR stock opened at $111.91 on Tuesday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 2.63 and a beta of 2.22. The company’s 50 day moving average is $119.51 and its 200 day moving average is $157.37. Avis Budget Group, Inc. has a 52-week low of $99.60 and a 52-week high of $244.95.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company earned $10.46 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Avis Budget Group, Inc. will post 15.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAR. Bank of America began coverage on shares of Avis Budget Group in a research note on Tuesday, March 19th. They set a “buy” rating and a $170.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $234.00 to $248.00 in a research note on Thursday, January 25th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.14.

Avis Budget Group Company Profile

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.