Avis Budget Group (NASDAQ:CAR) Cut to “Sell” at StockNews.com

Avis Budget Group (NASDAQ:CAR) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on CAR. Susquehanna cut their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Monday, March 25th. Bank of America cut their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group upgraded shares of Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $118.00 to $130.00 in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avis Budget Group currently has an average rating of “Moderate Buy” and an average target price of $164.57.

Avis Budget Group Stock Down 2.0 %

Shares of CAR opened at $105.15 on Friday. The company has a market capitalization of $3.75 billion, a P/E ratio of 3.32 and a beta of 2.21. The firm has a 50 day moving average of $111.13 and a 200 day moving average of $127.19. Avis Budget Group has a twelve month low of $93.53 and a twelve month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $7.72 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts expect that Avis Budget Group will post 12.4 EPS for the current year.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors have recently bought and sold shares of the company. Denali Advisors LLC lifted its stake in shares of Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after buying an additional 112 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after purchasing 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% during the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock worth $55,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Avis Budget Group during the fourth quarter worth $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Avis Budget Group by 55.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock worth $111,000 after purchasing an additional 324 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Avis Budget Group Company 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.