Avis Budget Group, Inc. (NASDAQ:CAR) Receives $137.57 Consensus PT from Analysts

Shares of Avis Budget Group, Inc. (NASDAQ:CARGet Free Report) have earned a consensus recommendation of “Reduce” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $137.5714.

Several brokerages recently issued reports on CAR. Wall Street Zen cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research lowered Avis Budget Group from a “hold” rating to a “strong sell” rating in a research note on Thursday. Barclays lowered their target price on Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, November 3rd. Susquehanna reduced their price target on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $142.00 price target (up from $115.00) on shares of Avis Budget Group in a report on Monday, December 8th.

View Our Latest Research Report on CAR

Key Headlines Impacting Avis Budget Group

Here are the key news stories impacting Avis Budget Group this week:

Institutional Trading of Avis Budget Group

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Avis Budget Group by 414.0% in the first quarter. Royal Bank of Canada now owns 17,860 shares of the business services provider’s stock valued at $1,355,000 after buying an additional 14,385 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Avis Budget Group by 10.1% during the 1st quarter. Empowered Funds LLC now owns 3,749 shares of the business services provider’s stock worth $285,000 after acquiring an additional 343 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Avis Budget Group by 16.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,023 shares of the business services provider’s stock valued at $4,935,000 after acquiring an additional 9,246 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Avis Budget Group in the 2nd quarter valued at about $1,352,000. Finally, Ethic Inc. purchased a new position in shares of Avis Budget Group in the 2nd quarter valued at about $330,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Trading Down 0.3%

Shares of NASDAQ:CAR opened at $96.47 on Thursday. Avis Budget Group has a twelve month low of $54.03 and a twelve month high of $212.81. The company has a market cap of $3.40 billion, a PE ratio of -3.80 and a beta of 2.33. The company’s 50 day moving average is $123.10 and its 200 day moving average is $139.36.

About Avis Budget Group

(Get Free Report)

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.

Further Reading

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.