Avis Budget Group (NASDAQ:CAR) Sets New 52-Week Low at $95.90

Avis Budget Group, Inc. (NASDAQ:CAR)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $95.90 and last traded at $97.06, with a volume of 218996 shares changing hands. The stock had previously closed at $103.30.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAR. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Susquehanna decreased 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 note on Wednesday, February 14th. Morgan Stanley dropped their price target on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Bank of America initiated coverage on Avis Budget Group in a research report on Tuesday, March 19th. They set a “buy” rating and a $170.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $172.86.

Avis Budget Group Stock Performance

The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 2.36 and a beta of 2.22. The stock’s 50-day moving average price is $111.66 and its 200-day moving average price is $153.11.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. Avis Budget Group’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.46 EPS. Analysts anticipate that Avis Budget Group, Inc. will post 14.73 earnings per share for the current year.

Institutional Trading of Avis Budget Group

A number of hedge funds have recently bought and sold shares of CAR. Huntington National Bank increased its stake in shares of Avis Budget Group by 101.0% during the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 105 shares during the last quarter. Denali Advisors LLC grew its stake in shares of Avis Budget Group by 94.1% during the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after buying an additional 112 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Avis Budget Group by 15,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Avis Budget Group in the 4th quarter worth $79,000. Finally, CWM LLC boosted its holdings in Avis Budget Group by 248.2% in the third quarter. CWM LLC now owns 491 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

About Avis Budget Group

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.