Avis Budget Group, Inc. (NASDAQ:CAR) Stock Has Average Target Price of $135.00

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been assigned an average rating of “Reduce” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $135.00.

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Avis Budget Group from $85.00 to $95.00 and gave the company a “sell” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Avis Budget Group from $155.00 to $170.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 23rd. Wall Street Zen lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley dropped their target price on shares of Avis Budget Group from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th.

Avis Budget Group Price Performance

Shares of NASDAQ:CAR opened at $111.22 on Friday. The business’s 50 day simple moving average is $132.29 and its 200 day simple moving average is $173.46. Avis Budget Group has a 1 year low of $85.96 and a 1 year high of $847.70. The company has a market capitalization of $3.93 billion, a P/E ratio of -6.12 and a beta of 2.12.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($1.07). The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Avis Budget Group’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, sell-side analysts anticipate that Avis Budget Group will post 1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pentwater Capital Management LP acquired a new stake in shares of Avis Budget Group in the 2nd quarter valued at $371,541,000. Hsbc Holdings PLC bought a new position in shares of Avis Budget Group in the 2nd quarter valued at $247,773,000. BlackRock Inc. acquired a new position in shares of Avis Budget Group during the 2nd quarter worth $245,413,000. Cibc World Market Inc. raised its holdings in shares of Avis Budget Group by 75.0% during the 4th quarter. Cibc World Market Inc. now owns 700,005 shares of the business services provider’s stock worth $89,825,000 after buying an additional 300,000 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in shares of Avis Budget Group by 7.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 400,000 shares of the business services provider’s stock worth $58,340,000 after buying an additional 27,500 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Company Profile

Avis Budget Group, Inc is a global provider of vehicle rental and mobility services. The company operates through a portfolio of brands that includes Avis, Budget, Payless and Zipcar, offering cars, vans and other vehicles to leisure and business customers.

Avis and Budget provide short-term vehicle rentals through airport and neighborhood locations, while Payless focuses on value-oriented rental services. Zipcar operates a car-sharing network that allows members to reserve vehicles by the hour or day.