Avis Budget Group, Inc. (NASDAQ:CAR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $172.86.

A number of equities analysts recently commented on CAR shares. Bank of America started coverage on Avis Budget Group in a research report on Tuesday, March 19th. They set a “buy” rating and a $170.00 price objective on the stock. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Monday, March 25th. Morgan Stanley reduced their target price on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $102.00 on Friday. The business’s 50 day moving average price is $117.15 and its 200-day moving average price is $156.51. The firm has a market capitalization of $3.64 billion, a PE ratio of 2.39 and a beta of 2.22. Avis Budget Group has a 1 year low of $99.60 and a 1 year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the business posted $10.46 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Avis Budget Group will post 15.35 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oxinas Partners Wealth Management LLC raised its holdings in shares of Avis Budget Group by 204.3% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 6,390 shares of the business services provider’s stock valued at $783,000 after buying an additional 4,290 shares during the period. State of Michigan Retirement System raised its holdings in shares of Avis Budget Group by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock valued at $560,000 after buying an additional 100 shares during the period. Alaska Permanent Fund Corp raised its holdings in shares of Avis Budget Group by 38.3% in the 1st quarter. Alaska Permanent Fund Corp now owns 17,083 shares of the business services provider’s stock valued at $2,092,000 after buying an additional 4,730 shares during the period. Leo Wealth LLC purchased a new stake in shares of Avis Budget Group in the 4th quarter valued at $201,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Avis Budget Group in the 4th quarter valued at $239,000. Hedge funds and other institutional investors 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.