Analysts Set Avis Budget Group, Inc. (NASDAQ:CAR) Target Price at $86.80

Avis Budget Group, Inc. (NASDAQ:CAR) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $93.17.

Several equities research analysts recently commented on CAR shares. Barclays decreased their price objective on shares of Avis Budget Group from $83.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 21st. They noted that the move was a valuation call. Bank of America upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $125.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Avis Budget Group from $75.00 to $91.00 and gave the company a “hold” rating in a report on Monday, August 2nd. JPMorgan Chase & Co. upgraded shares of Avis Budget Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $75.00 to $100.00 in a report on Thursday, August 5th. Finally, TheStreet upgraded shares of Avis Budget Group from a “d+” rating to a “c” rating in a report on Tuesday, August 3rd.

Shares of NASDAQ CAR traded down $3.47 during trading on Friday, hitting $95.32. 4,144,094 shares of the company were exchanged, compared to its average volume of 1,531,604. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 0.11 and a beta of 2.34. Avis Budget Group has a 1 year low of $25.54 and a 1 year high of $102.94. The firm’s fifty day moving average price is $85.82 and its 200 day moving average price is $81.23. The company has a debt-to-equity ratio of 159.62, a current ratio of 1.11 and a quick ratio of 1.11.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, August 2nd. The business services provider reported $5.90 EPS for the quarter, topping the consensus estimate of $1.21 by $4.69. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.08 billion. Avis Budget Group had a net margin of 2.76% and a negative return on equity of 385.05%. On average, research analysts forecast that Avis Budget Group will post 13.73 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. CWM Advisors LLC grew its position in Avis Budget Group by 3.1% in the second quarter. CWM Advisors LLC now owns 5,808 shares of the business services provider’s stock valued at $452,000 after acquiring an additional 176 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Avis Budget Group by 1.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 13,777 shares of the business services provider’s stock valued at $999,000 after buying an additional 258 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Avis Budget Group by 1.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,355 shares of the business services provider’s stock valued at $1,585,000 after buying an additional 270 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Avis Budget Group by 185.9% during the 2nd quarter. IFP Advisors Inc now owns 426 shares of the business services provider’s stock valued at $33,000 after buying an additional 277 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Avis Budget Group by 1.6% during the 1st quarter. State of Michigan Retirement System now owns 19,124 shares of the business services provider’s stock valued at $1,387,000 after buying an additional 300 shares during the last quarter.

Avis Budget Group Company Profile

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 licenses 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.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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