Chase Investment Counsel Corp Has $1.31 Million Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Chase Investment Counsel Corp grew its holdings in Avis Budget Group, Inc. (NASDAQ:CAR) by 25.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,000 shares of the business services provider’s stock after buying an additional 3,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Avis Budget Group were worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Valley Advisors LLC bought a new stake in shares of Avis Budget Group during the second quarter worth $25,000. EntryPoint Capital LLC boosted its stake in shares of Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position in shares of Avis Budget Group by 198.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after buying an additional 240 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after buying an additional 305 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Avis Budget Group by 180.0% in the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAR. Deutsche Bank Aktiengesellschaft cut their price target on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Barclays began coverage on Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group lowered their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Avis Budget Group Stock Up 2.4 %

NASDAQ:CAR opened at $99.20 on Wednesday. Avis Budget Group, Inc. has a twelve month low of $65.73 and a twelve month high of $204.77. The company has a market cap of $3.49 billion, a P/E ratio of 9.06 and a beta of 2.14. The business has a 50 day moving average price of $83.59 and a two-hundred day moving average price of $96.25.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the business posted $16.78 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts anticipate that Avis Budget Group, Inc. will post 5.24 earnings per share for the current fiscal year.

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.