Avis Budget Group, Inc. (NASDAQ:CAR) Receives $227.00 Consensus Price Target from Analysts

Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $227.00.

A number of research firms recently commented on CAR. StockNews.com assumed coverage on Avis Budget Group in a research note on Thursday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Avis Budget Group from $270.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Morgan Stanley upped their price target on Avis Budget Group from $160.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, February 23rd. Susquehanna upped their price objective on Avis Budget Group from $225.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, Susquehanna Bancshares began coverage on Avis Budget Group in a research note on Tuesday, December 6th. They issued a “neutral” rating and a $225.00 price objective for the company.

Insider Activity

In related news, Director Lynn Krominga sold 887 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total value of $200,728.10. Following the sale, the director now directly owns 628 shares in the company, valued at $142,116.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Lynn Krominga sold 887 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total value of $200,728.10. Following the sale, the director now directly owns 628 shares in the company, valued at $142,116.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward P. Linnen sold 7,300 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $242.58, for a total value of $1,770,834.00. Following the completion of the sale, the executive vice president now owns 29,168 shares in the company, valued at $7,075,573.44. The disclosure for this sale can be found here. Company insiders own 37.30% of the company’s stock.

Institutional Investors Weigh In On Avis Budget Group

Several large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its stake in shares of Avis Budget Group by 8.8% during the fourth quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider’s stock valued at $87,000 after buying an additional 43 shares during the last quarter. Cozad Asset Management Inc. grew its stake in Avis Budget Group by 2.5% in the third quarter. Cozad Asset Management Inc. now owns 2,060 shares of the business services provider’s stock worth $306,000 after purchasing an additional 50 shares in the last quarter. Inspire Investing LLC grew its stake in Avis Budget Group by 4.1% in the fourth quarter. Inspire Investing LLC now owns 1,447 shares of the business services provider’s stock worth $237,000 after purchasing an additional 57 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Avis Budget Group by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,387 shares of the business services provider’s stock worth $719,000 after purchasing an additional 75 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its stake in Avis Budget Group by 5.6% in the third quarter. Kestra Advisory Services LLC now owns 1,646 shares of the business services provider’s stock worth $244,000 after purchasing an additional 88 shares in the last quarter. 98.31% of the stock is owned by institutional investors.

Avis Budget Group Price Performance

Shares of Avis Budget Group stock opened at $173.38 on Thursday. The business has a fifty day simple moving average of $207.82 and a two-hundred day simple moving average of $194.54. Avis Budget Group has a 1 year low of $131.83 and a 1 year high of $327.80. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 3.03 and a beta of 2.34.

Avis Budget Group (NASDAQ:CAR – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The business services provider reported $10.46 EPS for the quarter, topping analysts’ consensus estimates of $6.85 by $3.61. Avis Budget Group had a negative return on equity of 395.49% and a net margin of 23.05%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $7.08 earnings per share. Avis Budget Group’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Avis Budget Group will post 28.24 earnings per share for the current fiscal year.

About Avis Budget Group

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Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment includes the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.