Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) Price Target at $182.40

Shares of Avis Budget Group, Inc. (NASDAQ:CARGet Rating) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $193.40.

Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Avis Budget Group from $140.00 to $150.00 and gave the stock an “underweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Avis Budget Group from $184.00 to $229.00 in a research report on Wednesday. StockNews.com cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Finally, Barclays dropped their price objective on shares of Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, July 5th.

Avis Budget Group Trading Up 3.7 %

NASDAQ CAR opened at $184.11 on Wednesday. The stock has a fifty day simple moving average of $165.68 and a 200-day simple moving average of $202.47. The stock has a market cap of $8.89 billion, a PE ratio of 4.33 and a beta of 2.11. Avis Budget Group has a twelve month low of $78.90 and a twelve month high of $545.11.

Avis Budget Group (NASDAQ:CARGet Rating) last announced its earnings results on Monday, August 1st. The business services provider reported $15.94 earnings per share for the quarter, topping the consensus estimate of $11.48 by $4.46. Avis Budget Group had a net margin of 21.02% and a negative return on equity of 477.68%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $5.90 earnings per share. Avis Budget Group’s revenue was up 36.8% compared to the same quarter last year. Research analysts predict that Avis Budget Group will post 38.87 EPS for the current year.

Insider Activity at Avis Budget Group

In other news, Chairman Bernardo Hees acquired 26,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was acquired at an average cost of $189.90 per share, with a total value of $4,937,400.00. Following the transaction, the chairman now owns 422,142 shares in the company, valued at $80,164,765.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Avis Budget Group news, Director Glenn Lurie sold 1,474 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $178.94, for a total value of $263,757.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Bernardo Hees acquired 26,000 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were bought at an average cost of $189.90 per share, for a total transaction of $4,937,400.00. Following the acquisition, the chairman now owns 422,142 shares of the company’s stock, valued at approximately $80,164,765.80. The disclosure for this purchase can be found here. Insiders have bought a total of 83,734 shares of company stock valued at $14,792,435 over the last 90 days. 37.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAR. State Street Corp increased its position in Avis Budget Group by 1.2% during the first quarter. State Street Corp now owns 1,458,488 shares of the business services provider’s stock worth $384,020,000 after buying an additional 16,655 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Avis Budget Group by 224.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,299,208 shares of the business services provider’s stock valued at $269,417,000 after acquiring an additional 899,208 shares during the period. National Bank of Canada FI raised its position in Avis Budget Group by 616,533.8% in the 2nd quarter. National Bank of Canada FI now owns 857,121 shares of the business services provider’s stock valued at $126,066,000 after purchasing an additional 856,982 shares during the last quarter. Bank of America Corp DE boosted its stake in Avis Budget Group by 203.5% during the 1st quarter. Bank of America Corp DE now owns 789,094 shares of the business services provider’s stock worth $207,769,000 after purchasing an additional 529,066 shares during the period. Finally, Northern Trust Corp grew its position in Avis Budget Group by 0.6% during the 1st quarter. Northern Trust Corp now owns 622,685 shares of the business services provider’s stock worth $163,952,000 after purchasing an additional 3,626 shares during the last quarter.

Avis Budget Group Company Profile

(Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

See Also

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Want More Great Investing Ideas?

Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.