Avis Budget Group (NASDAQ:CAR) Stock Rating Lowered by StockNews.com

Avis Budget Group (NASDAQ:CAR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently commented on CAR. Deutsche Bank Aktiengesellschaft cut their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Monday, March 25th. Morgan Stanley cut their price target on shares of 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. The Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $118.00 to $130.00 in a research report on Thursday, April 4th. Finally, Bank of America cut their price target on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.57.

Avis Budget Group Stock Down 2.2 %

NASDAQ CAR opened at $105.66 on Wednesday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 3.34 and a beta of 2.26. Avis Budget Group has a twelve month low of $93.53 and a twelve month high of $244.95. The stock has a fifty day simple moving average of $110.72 and a 200 day simple moving average of $131.70.

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 analysts’ consensus estimates of ($2.65) by ($0.56). The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.72 earnings per share. Research analysts expect that Avis Budget Group will post 12.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avis Budget Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC raised its holdings in shares of Avis Budget Group by 94.1% in the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after acquiring an additional 112 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after acquiring an additional 124 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in shares of Avis Budget Group by 15,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after acquiring an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Avis Budget Group in the 4th quarter valued at about $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Avis Budget Group by 55.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock valued at $111,000 after buying an additional 324 shares during the last quarter. Institutional investors 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.