Avis Budget Group (NASDAQ:CAR) Given New $130.00 Price Target at Susquehanna

Avis Budget Group (NASDAQ:CAR) had its price target cut by Susquehanna from $145.00 to $130.00 in a research note published on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $196.00 price target (up from $130.00) on shares of Avis Budget Group in a research report on Thursday, July 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Avis Budget Group in a research report on Wednesday, October 8th. Zacks Research lowered Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price target (up from $87.00) on shares of Avis Budget Group in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on Avis Budget Group from $155.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $141.83.

Avis Budget Group Stock Down 4.6%

CAR opened at $139.05 on Wednesday. The business has a fifty day moving average of $154.68 and a 200 day moving average of $144.56. Avis Budget Group has a 52-week low of $54.03 and a 52-week high of $212.81. The stock has a market cap of $4.89 billion, a P/E ratio of -2.33 and a beta of 2.03.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, October 27th. The business services provider reported $10.11 earnings per share for the quarter, beating analysts’ consensus estimates of $8.11 by $2.00. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.47 billion. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $6.65 earnings per share. Equities analysts anticipate that Avis Budget Group will post 8.91 EPS for the current fiscal year.

Insider Transactions at Avis Budget Group

In related news, Director Bernardo Hees sold 402,200 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $156.59, for a total value of $62,980,498.00. Following the completion of the transaction, the director owned 116,521 shares of the company’s stock, valued at approximately $18,246,023.39. This represents a 77.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward P. Linnen sold 10,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $156.83, for a total value of $1,568,300.00. Following the transaction, the executive vice president directly owned 40,915 shares of the company’s stock, valued at $6,416,699.45. The trade was a 19.64% decrease in their position. The SEC filing for this sale provides additional information. 52.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avis Budget Group

A number of hedge funds have recently made changes to their positions in CAR. Crossmark Global Holdings Inc. acquired a new stake in shares of Avis Budget Group in the first quarter valued at approximately $274,000. Ballentine Partners LLC acquired a new stake in shares of Avis Budget Group in the second quarter valued at approximately $308,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Avis Budget Group by 9.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,840 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 519 shares during the last quarter. Russell Investments Group Ltd. grew its position in Avis Budget Group by 2,228.9% in the first quarter. Russell Investments Group Ltd. now owns 1,770 shares of the business services provider’s stock worth $134,000 after acquiring an additional 1,694 shares during the period. Finally, Victory Capital Management Inc. grew its position in Avis Budget Group by 166.0% in the first quarter. Victory Capital Management Inc. now owns 29,527 shares of the business services provider’s stock worth $2,241,000 after acquiring an additional 18,425 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Company Profile

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.