Avis Budget Group (NASDAQ:CAR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a report released on Thursday.

A number of other equities research analysts have also weighed in on CAR. Deutsche Bank Aktiengesellschaft reduced their price objective on Avis Budget Group from $202.00 to $183.00 and set a buy rating on the stock in a research report on Thursday, April 18th. The Goldman Sachs Group upgraded Avis Budget Group from a sell rating to a neutral rating and boosted their price target for the stock from $118.00 to $130.00 in a report on Thursday, April 4th. Bank of America dropped their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a buy rating for the company in a report on Wednesday. Morgan Stanley reduced their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an overweight rating on the stock in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Avis Budget Group from $280.00 to $240.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $164.57.

Avis Budget Group Stock Up 1.6 %

Shares of CAR stock traded up $1.83 on Thursday, reaching $115.60. The company had a trading volume of 1,058,913 shares, compared to its average volume of 903,108. The business’s 50-day moving average is $111.63 and its 200 day moving average is $150.53. Avis Budget Group has a one year low of $93.53 and a one year high of $244.95. The stock has a market capitalization of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.56). The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. Avis Budget Group’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $7.72 EPS. On average, sell-side analysts forecast that Avis Budget Group will post 13.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avis Budget Group

Large investors have recently modified their holdings of the company. Denali Advisors LLC boosted its position in shares of Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares in the last quarter. Huntington National Bank lifted its stake in Avis Budget Group by 101.0% in the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after buying an additional 105 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Avis Budget Group during the 4th quarter worth approximately $79,000. Finally, Covestor Ltd grew its position in shares of Avis Budget Group by 733.9% during the 3rd quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after buying an additional 455 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.