Avis Budget Group (NASDAQ:CAR) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Avis Budget Group (NASDAQ:CAR) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an equal weight rating and a $105.00 price target on the business services provider’s stock.

A number of other equities analysts also recently issued reports on CAR. JPMorgan Chase & Co. reduced their price target on Avis Budget Group from $205.00 to $175.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Susquehanna reduced their target price on Avis Budget Group from $120.00 to $95.00 and set a neutral rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $155.00 to $146.00 and set a buy rating on the stock in a research note on Friday, August 30th. The Goldman Sachs Group reduced their price objective on shares of Avis Budget Group from $120.00 to $105.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of Avis Budget Group from a hold rating to a sell rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $138.50.

Avis Budget Group Price Performance

Shares of NASDAQ CAR opened at $85.90 on Thursday. The stock has a fifty day moving average price of $88.09 and a 200 day moving average price of $103.35. Avis Budget Group has a 1-year low of $65.73 and a 1-year high of $204.77. The company has a market cap of $3.06 billion, a PE ratio of 2.71 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business posted $11.01 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts anticipate that Avis Budget Group will post 7.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC increased its position in 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 buying an additional 124 shares in the last quarter. Denali Advisors LLC raised its stake in Avis Budget Group by 94.1% in the 1st quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the last quarter. Central Valley Advisors LLC purchased a new position in Avis Budget Group in the 2nd quarter valued at about $25,000. TFO Wealth Partners LLC boosted its stake 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 purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after buying an additional 459 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.