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

StockNews.com lowered shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a report issued on Wednesday morning.

Several other research analysts have also recently issued reports on CAR. Susquehanna decreased their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a neutral rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $205.00 to $175.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Avis Budget Group from $120.00 to $105.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Bank of America cut their price objective on Avis Budget Group from $170.00 to $140.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Avis Budget Group from $202.00 to $183.00 and set a buy rating for the company in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $148.57.

Avis Budget Group Stock Down 0.3 %

CAR opened at $87.50 on Wednesday. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 2.76 and a beta of 2.21. The company’s 50-day moving average price is $101.05 and its 200 day moving average price is $112.38. Avis Budget Group has a fifty-two week low of $79.03 and a fifty-two week high of $233.10.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $11.01 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts anticipate that Avis Budget Group will post 12.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Valley Advisors LLC bought a new stake in shares of Avis Budget Group in the 2nd quarter worth about $25,000. Denali Advisors LLC increased its holdings in shares of Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after buying an additional 112 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 124 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after acquiring an additional 311 shares in the last quarter. Finally, Signaturefd LLC grew its position in Avis Budget Group by 180.0% during the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Company Profile

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.