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

Avis Budget Group (NASDAQ:CAR) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Avis Budget Group from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, August 30th. The Goldman Sachs Group dropped their price objective on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. reduced their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday. Susquehanna dropped their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Barclays assumed coverage on Avis Budget Group in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $133.13.

Avis Budget Group Trading Down 1.9 %

NASDAQ CAR opened at $88.51 on Monday. The firm’s fifty day simple moving average is $82.05 and its two-hundred day simple moving average is $96.44. The firm has a market capitalization of $3.16 billion, a P/E ratio of 8.08 and a beta of 2.14. Avis Budget Group has a 12-month low of $65.73 and a 12-month high of $204.77.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 89.12% and a net margin of 3.34%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the firm earned $16.78 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Avis Budget Group will post 6.66 earnings per share for the current fiscal year.

Institutional Trading of Avis Budget Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock valued at $421,350,000 after buying an additional 478,552 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of Avis Budget Group by 220.9% in the 2nd quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after purchasing an additional 475,181 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Avis Budget Group in the 2nd quarter worth about $19,978,000. Toronto Dominion Bank purchased a new position in Avis Budget Group during the second quarter worth approximately $10,452,000. Finally, Natixis grew its holdings in Avis Budget Group by 1,339.3% in the first quarter. Natixis now owns 101,242 shares of the business services provider’s stock valued at $12,398,000 after purchasing an additional 94,208 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

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.