Louisiana State Employees Retirement System Purchases New Stake in Avis Budget Group, Inc. (NASDAQ:CAR)

Louisiana State Employees Retirement System acquired a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,200 shares of the business services provider’s stock, valued at approximately $922,000.

Other large investors have also bought and sold shares of the company. Huntington National Bank lifted its stake in Avis Budget Group by 101.0% during the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 105 shares in the last quarter. CWM LLC lifted its stake in Avis Budget Group by 248.2% during the 3rd quarter. CWM LLC now owns 491 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 350 shares in the last quarter. Covestor Ltd raised its stake in shares of Avis Budget Group by 733.9% during the 3rd quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after purchasing an additional 455 shares during the period. C M Bidwell & Associates Ltd. raised its stake in shares of Avis Budget Group by 181.5% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 881 shares of the business services provider’s stock worth $158,000 after purchasing an additional 568 shares during the period. Finally, Teza Capital Management LLC bought a new stake in shares of Avis Budget Group during the 3rd quarter worth $214,000. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Stock Down 3.6 %

CAR stock opened at $99.57 on Friday. The firm has a market capitalization of $3.55 billion, a PE ratio of 2.34 and a beta of 2.22. Avis Budget Group, Inc. has a twelve month low of $93.53 and a twelve month high of $244.95. The stock has a 50-day simple moving average of $111.89 and a two-hundred day simple moving average of $153.66.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $10.46 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Avis Budget Group, Inc. will post 14.73 EPS for the current fiscal year.

Analyst Ratings Changes

CAR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Susquehanna lowered their target price on Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Morgan Stanley lowered their target price on Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.86.

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.