Avis Budget Group (NASDAQ:CAR) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna cut their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a neutral rating for the company in a research report on Tuesday, April 30th. Bank of America cut their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Northcoast Research raised shares of Avis Budget Group from a neutral rating to a buy rating and set a $155.00 price objective for the company in a research report on Monday, March 25th. JPMorgan Chase & Co. cut their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a buy rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $164.57.

Avis Budget Group Stock Performance

Shares of Avis Budget Group stock opened at $115.60 on Thursday. The firm has a 50-day moving average of $111.63 and a 200-day moving average of $150.15. The stock has a market cap of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28. Avis Budget Group has a 52-week low of $93.53 and a 52-week high of $244.95.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.72 EPS. Equities research analysts predict that Avis Budget Group will post 13.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP increased its stake in shares of Avis Budget Group by 4.8% in the fourth quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock valued at $231,000 after buying an additional 60 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Avis Budget Group by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider’s stock valued at $450,000 after buying an additional 79 shares during the period. Arizona State Retirement System increased its stake in shares of Avis Budget Group by 1.4% in 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 buying an additional 84 shares during the period. New York Life Investment Management LLC increased its stake in shares of Avis Budget Group by 4.0% in the fourth quarter. New York Life Investment Management LLC now owns 2,265 shares of the business services provider’s stock valued at $401,000 after buying an additional 87 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Avis Budget Group by 2.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,270 shares of the business services provider’s stock valued at $767,000 after buying an additional 89 shares during the period. 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.