Brokerages Set Avis Budget Group, Inc. (NASDAQ:CAR) PT at $125.25

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been assigned a consensus rating of “Reduce” from the ten brokerages that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $125.25.

Several equities research analysts have recently issued reports on the company. Susquehanna raised their price target on Avis Budget Group from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Zacks Research raised Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $125.00 price target on shares of Avis Budget Group in a research report on Friday, May 1st. Jefferies Financial Group downgraded Avis Budget Group from a “buy” rating to a “hold” rating and raised their price target for the company from $112.00 to $160.00 in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avis Budget Group in a research report on Wednesday, May 20th.

Insider Activity

In other news, major shareholder Pentwater Capital Management L sold 3,347 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $438.74, for a total value of $1,468,462.78. Following the sale, the insider directly owned 6,177,100 shares of the company’s stock, valued at approximately $2,710,140,854. This trade represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward P. Linnen sold 9,483 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $182.32, for a total transaction of $1,728,940.56. Following the completion of the sale, the executive vice president owned 37,932 shares of the company’s stock, valued at approximately $6,915,762.24. The trade was a 20.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,299 shares of company stock valued at $3,836,012. 50.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Avis Budget Group by 1,845.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 214 shares of the business services provider’s stock valued at $27,000 after buying an additional 203 shares during the period. Quarry LP bought a new stake in shares of Avis Budget Group in the fourth quarter valued at about $27,000. Basepoint Wealth LLC bought a new stake in shares of Avis Budget Group in the fourth quarter valued at about $32,000. Hantz Financial Services Inc. lifted its stake in shares of Avis Budget Group by 136.4% in the third quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock valued at $41,000 after buying an additional 146 shares during the period. Finally, American Wealth Advisors LLC bought a new stake in shares of Avis Budget Group in the third quarter valued at about $41,000. Institutional investors own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $176.79 on Friday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -9.28 and a beta of 1.87. Avis Budget Group has a one year low of $85.96 and a one year high of $847.70. The company’s fifty day moving average price is $227.31 and its two-hundred day moving average price is $157.11.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, April 29th. The business services provider reported ($8.01) EPS for the quarter, missing the consensus estimate of ($6.82) by ($1.19). The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Avis Budget Group’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned ($14.35) earnings per share. As a group, sell-side analysts anticipate that Avis Budget Group will post 2.93 earnings per share for the current year.

About Avis Budget Group

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.