Avis Budget Group, Inc. (NASDAQ:CAR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $227.00.

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

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 887 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total transaction of $200,728.10. Following the sale, the director now owns 628 shares in the company, valued at $142,116.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Lynn Krominga sold 887 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total transaction of $200,728.10. Following the sale, the director now directly owns 628 shares in the company, valued at approximately $142,116.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward P. Linnen sold 7,300 shares of the stock in a transaction that occurred on 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 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. 37.30% of the stock is currently owned by insiders.

Institutional Trading of Avis Budget Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. AXS Investments LLC acquired a new stake in Avis Budget Group in the 4th quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new stake in Avis Budget Group in the 2nd quarter valued at approximately $47,000. National Bank of Canada FI increased its position in Avis Budget Group by 150.4% in the 4th quarter. National Bank of Canada FI now owns 303 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 182 shares during the period. Signaturefd LLC increased its position in Avis Budget Group by 160.7% in the 3rd quarter. Signaturefd LLC now owns 352 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 217 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Avis Budget Group by 1,129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 381 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 350 shares during the period. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Price Performance

Shares of NASDAQ CAR opened at $187.13 on Thursday. Avis Budget Group has a 1-year low of $131.83 and a 1-year high of $327.80. The business has a 50-day moving average of $207.40 and a 200-day moving average of $194.47. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 3.27 and a beta of 2.34.

Avis Budget Group (NASDAQ:CAR – Get Rating) last issued its earnings results on Tuesday, February 14th. The business services provider reported $10.46 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $7.08 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Avis Budget Group will post 28.24 EPS 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.