Analysts Set Avis Budget Group, Inc. (NASDAQ:CAR) PT at $125.00

Avis Budget Group, Inc. (NASDAQ:CAR) has earned an average rating of “Reduce” from the ten brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $125.00.

CAR has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $112.00 to $160.00 in a research report on Friday, May 1st. Barclays lowered their target price on shares of Avis Budget Group from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 5th. The Goldman Sachs Group set a $85.00 price target on shares of Avis Budget Group in a report on Monday, February 23rd. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, January 21st.

Avis Budget Group Stock Up 3.7%

Shares of NASDAQ CAR opened at $151.19 on Tuesday. Avis Budget Group has a 52 week low of $85.96 and a 52 week high of $847.70. The business has a 50-day simple moving average of $203.94 and a two-hundred day simple moving average of $154.55. The company has a market cap of $5.34 billion, a P/E ratio of -7.94 and a beta of 1.91.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, April 29th. The business services provider reported ($8.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.82) by ($1.19). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm earned ($14.35) earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Avis Budget Group will post 3.72 EPS for the current year.

Insiders Place Their Bets

In other Avis Budget Group news, EVP Ravi Simhambhatla sold 3,469 shares of Avis Budget Group stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $184.09, for a total transaction of $638,608.21. Following the completion of the sale, the executive vice president directly owned 13,876 shares in the company, valued at $2,554,432.84. The trade was a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn Krominga sold 1,950 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $91.54, for a total transaction of $178,503.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 18,249 shares of company stock worth $4,014,515. Insiders own 50.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAR. UBS Group AG increased its stake in Avis Budget Group by 37.3% in the fourth quarter. UBS Group AG now owns 2,964,807 shares of the business services provider’s stock valued at $380,444,000 after acquiring an additional 804,814 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Avis Budget Group by 38.1% in the 4th quarter. Morgan Stanley now owns 1,975,675 shares of the business services provider’s stock worth $253,519,000 after purchasing an additional 545,574 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Avis Budget Group by 46.6% in the 3rd quarter. National Bank of Canada FI now owns 1,290,000 shares of the business services provider’s stock worth $207,142,000 after purchasing an additional 409,761 shares in the last quarter. ING Groep NV increased its position in shares of Avis Budget Group by 440.2% during the 3rd quarter. ING Groep NV now owns 1,035,000 shares of the business services provider’s stock valued at $166,195,000 after purchasing an additional 843,400 shares during the last quarter. Finally, State Street Corp increased its position in shares of Avis Budget Group by 1.0% during the 2nd quarter. State Street Corp now owns 713,127 shares of the business services provider’s stock valued at $120,554,000 after purchasing an additional 7,318 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.