Avis Budget Group, Inc. (NASDAQ:CAR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Avis Budget Group, Inc. (NASDAQ:CARGet Free Report) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $192.83.

A number of research firms have weighed in on CAR. Deutsche Bank Aktiengesellschaft raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $234.00 to $248.00 in a research report on Thursday, January 25th. Susquehanna cut their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Bank of America started coverage on shares of Avis Budget Group in a research report on Tuesday, March 19th. They set a “buy” rating and a $170.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Finally, Morgan Stanley cut their price objective on shares of Avis Budget Group from $230.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd.

Read Our Latest Analysis on Avis Budget Group

Institutional Trading of Avis Budget Group

Several hedge funds have recently modified their holdings of the stock. Leo Wealth LLC bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $201,000. Neo Ivy Capital Management bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $239,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Avis Budget Group by 8.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,705 shares of the business services provider’s stock valued at $302,000 after purchasing an additional 140 shares during the last quarter. Systematic Portfolios LLC bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $251,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $15,519,000. 98.26% of the stock is owned by institutional investors.

Avis Budget Group Stock Down 1.5 %

Avis Budget Group stock opened at $113.47 on Monday. The company’s fifty day simple moving average is $133.92 and its 200-day simple moving average is $165.35. Avis Budget Group has a 12 month low of $99.60 and a 12 month high of $244.95. The stock has a market cap of $4.02 billion, a P/E ratio of 2.66 and a beta of 2.21.

Avis Budget Group (NASDAQ:CARGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating the consensus estimate of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the company posted $10.46 EPS. Avis Budget Group’s revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that Avis Budget Group will post 15.7 earnings per share for the current fiscal year.

About Avis Budget Group

(Get Free Report

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.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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