State of New Jersey Common Pension Fund D Buys 1,772 Shares of Avis Budget Group, Inc. (NASDAQ:CAR)

State of New Jersey Common Pension Fund D raised its stake in Avis Budget Group, Inc. (NASDAQ:CAR) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,989 shares of the business services provider’s stock after buying an additional 1,772 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avis Budget Group were worth $2,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Huntington National Bank boosted its stake in Avis Budget Group by 101.0% in the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after buying an additional 105 shares in the last quarter. CWM LLC boosted its stake in shares of Avis Budget Group by 248.2% in the 3rd quarter. CWM LLC now owns 491 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 350 shares in the last quarter. Covestor Ltd grew its holdings in shares of Avis Budget Group by 733.9% during the 3rd quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 455 shares during the last quarter. C M Bidwell & Associates Ltd. raised its position in Avis Budget Group by 181.5% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock worth $158,000 after purchasing an additional 568 shares during the period. Finally, Teza Capital Management LLC bought a new stake in Avis Budget Group in the third quarter worth $214,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAR. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Monday, March 25th. Morgan Stanley lowered their price objective on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Susquehanna lowered their price target on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and raised their price target for the stock from $118.00 to $130.00 in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.57.

Avis Budget Group Trading Down 0.7 %

NASDAQ:CAR opened at $94.75 on Thursday. Avis Budget Group, Inc. has a 12 month low of $93.53 and a 12 month high of $244.95. The company has a 50-day moving average price of $111.15 and a 200-day moving average price of $151.21. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 2.22 and a beta of 2.22.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $7.72 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Equities analysts forecast that Avis Budget Group, Inc. will post 14.73 EPS for the current fiscal year.

Avis Budget Group Profile

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.