Zacks Research Expects Higher Earnings for Avis Budget Group

Avis Budget Group, Inc. (NASDAQ:CAR) – Investment analysts at Zacks Research lifted their Q3 2026 earnings per share (EPS) estimates for Avis Budget Group in a research report issued on Monday, November 17th. Zacks Research analyst Team now anticipates that the business services provider will post earnings per share of $7.04 for the quarter, up from their prior forecast of $6.56. Zacks Research currently has a “Strong Sell” rating on the stock. The consensus estimate for Avis Budget Group’s current full-year earnings is $8.91 per share.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $10.11 EPS for the quarter, beating analysts’ consensus estimates of $8.11 by $2.00. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm earned $6.65 EPS. Avis Budget Group’s revenue for the quarter was up 1.1% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Avis Budget Group in a research report on Wednesday, October 8th. Bank of America restated an “underperform” rating and set a $113.00 price objective (down previously from $120.00) on shares of Avis Budget Group in a research note on Wednesday, August 20th. Barclays lowered their target price on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target (up previously from $87.00) on shares of Avis Budget Group in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $136.83.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $129.30 on Tuesday. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -2.16 and a beta of 2.12. Avis Budget Group has a 12 month low of $54.03 and a 12 month high of $212.81. The stock’s 50-day moving average is $149.41 and its 200-day moving average is $150.08.

Hedge Funds Weigh In On Avis Budget Group

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Avis Budget Group by 166.0% during the first quarter. Victory Capital Management Inc. now owns 29,527 shares of the business services provider’s stock worth $2,241,000 after buying an additional 18,425 shares during the period. Allianz Asset Management GmbH bought a new stake in Avis Budget Group during the 1st quarter valued at $3,262,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Avis Budget Group by 9.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,840 shares of the business services provider’s stock worth $443,000 after acquiring an additional 519 shares during the period. Mackenzie Financial Corp grew its stake in shares of Avis Budget Group by 28.4% in the first quarter. Mackenzie Financial Corp now owns 3,477 shares of the business services provider’s stock worth $264,000 after purchasing an additional 770 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Avis Budget Group by 89.9% in the first quarter. Federated Hermes Inc. now owns 5,762 shares of the business services provider’s stock worth $437,000 after purchasing an additional 2,728 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.