Avis Budget Group (NASDAQ:CAR) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research report released on Wednesday morning.

CAR has been the subject of several other research reports. Bank of America lowered their price target on shares of Avis Budget Group from $170.00 to $140.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Susquehanna lowered their price target 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, April 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a buy rating for the company in a research report on Thursday, April 18th. Morgan Stanley lowered their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised shares of Avis Budget Group from a sell rating to a neutral rating and lifted their price objective for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $164.57.

Avis Budget Group Trading Down 1.1 %

CAR opened at $104.52 on Wednesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 3.30 and a beta of 2.26. Avis Budget Group has a 1-year low of $93.53 and a 1-year high of $244.95. The firm has a 50-day moving average price of $110.78 and a two-hundred day moving average price of $131.06.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.56). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $7.72 EPS. The company’s revenue was down .2% compared to the same quarter last year. On average, research analysts predict that Avis Budget Group will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CAR. Denali Advisors LLC lifted its stake in Avis Budget Group by 94.1% in the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after buying an additional 112 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Avis Budget Group by 119.2% in the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after buying an additional 124 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after buying an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new position in Avis Budget Group in the fourth quarter valued at approximately $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Avis Budget Group by 55.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 905 shares of the business services provider’s stock valued at $111,000 after buying an additional 324 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

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.