Louisiana State Employees Retirement System Invests $922,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Louisiana State Employees Retirement System acquired a new position in Avis Budget Group, Inc. (NASDAQ:CAR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,200 shares of the business services provider’s stock, valued at approximately $922,000.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank raised its stake in shares of Avis Budget Group by 101.0% in the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after buying an additional 105 shares during the period. CWM LLC raised its stake in Avis Budget Group by 248.2% during the 3rd quarter. CWM LLC now owns 491 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 350 shares during the period. Covestor Ltd raised its stake in Avis Budget Group by 733.9% during the 3rd quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 455 shares during the period. C M Bidwell & Associates Ltd. raised its stake in Avis Budget Group by 181.5% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 568 shares during the period. Finally, Teza Capital Management LLC bought a new stake in Avis Budget Group during the 3rd quarter valued at approximately $214,000. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $99.57 on Friday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 2.34 and a beta of 2.22. The stock has a 50 day moving average price of $111.89 and a 200-day moving average price of $153.66. Avis Budget Group, Inc. has a one year low of $93.53 and a one year high of $244.95.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $10.46 EPS. Avis Budget Group’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Avis Budget Group, Inc. will post 14.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAR. Deutsche Bank Aktiengesellschaft decreased their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Bank of America started coverage on Avis Budget Group in a research note on Tuesday, March 19th. They set a “buy” rating and a $170.00 target price on the stock. Northcoast Research upgraded 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. Susquehanna cut their price target on Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their price target on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group 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.