Avis Budget Group (NASDAQ:CAR) Rating Lowered 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 Thursday.

Several other analysts have also issued reports on the company. 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. Susquehanna cut their target price 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. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Monday, March 25th. Morgan Stanley dropped their price target on shares of 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. reduced their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.57.

Avis Budget Group Stock Up 1.6 %

NASDAQ CAR traded up $1.83 during trading hours on Thursday, reaching $115.60. 1,058,913 shares of the company were exchanged, compared to its average volume of 903,108. The stock has a market capitalization of $4.12 billion, a P/E ratio of 3.65 and a beta of 2.28. Avis Budget Group has a 1 year low of $93.53 and a 1 year high of $244.95. The business’s 50 day simple moving average is $111.63 and its 200-day simple moving average is $150.53.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business earned $7.72 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Avis Budget Group will post 13.55 earnings per share for the current year.

Institutional Trading of Avis Budget Group

Several institutional investors and hedge funds have recently bought and sold shares of CAR. UBS Group AG raised its position in shares of Avis Budget Group by 33.3% in the third quarter. UBS Group AG now owns 72,683 shares of the business services provider’s stock worth $13,060,000 after buying an additional 18,167 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Avis Budget Group by 165.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 25,571 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 15,943 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Avis Budget Group by 274.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,502 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 6,234 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Avis Budget Group in the fourth quarter worth approximately $12,317,000. Finally, Nisa Investment Advisors LLC raised its stake in Avis Budget Group by 1,345.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,515 shares of the business services provider’s stock valued at $446,000 after purchasing an additional 2,341 shares in 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, 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.