Avis Budget Group (NASDAQ:CAR – Get Rating) had its target price reduced by equities researchers at Susquehanna from $240.00 to $195.00 in a research report issued on Wednesday, The Fly reports. Susquehanna's price target suggests a potential upside of 13.53% from the stock's previous close.
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Avis Budget Group from $270.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, February 15th. Morgan Stanley upped their price target on shares of Avis Budget Group from $160.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, February 23rd. Finally, StockNews.com initiated coverage on shares of Avis Budget Group in a research note on Thursday, March 16th. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $218.71.
Get Avis Budget Group alerts:Avis Budget Group Stock Down 3.1 %
Shares of NASDAQ:CAR opened at $171.76 on Wednesday. Avis Budget Group has a fifty-two week low of $131.83 and a fifty-two week high of $307.95. The firm has a 50-day simple moving average of $190.68 and a 200 day simple moving average of $199.08. The company has a market cap of $6.83 billion, a PE ratio of 3.00 and a beta of 2.32.
Avis Budget Group (NASDAQ:CAR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $7.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $4.38. Avis Budget Group had a net margin of 23.05% and a negative return on equity of 395.49%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $9.99 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Avis Budget Group will post 29.64 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Lynn Krominga sold 887 shares of the business's stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $226.30, for a total value of $200,728.10. Following the sale, the director now directly owns 628 shares in the company, valued at approximately $142,116.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lynn Krominga sold 887 shares of the business's stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $226.30, for a total transaction of $200,728.10. Following the sale, the director now owns 628 shares in the company, valued at $142,116.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward P. Linnen sold 7,300 shares of the business's stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $242.58, for a total transaction of $1,770,834.00. Following the sale, the executive vice president now owns 29,168 shares in the company, valued at approximately $7,075,573.44. The disclosure for this sale can be found here. Insiders own 37.30% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in CAR. AXS Investments LLC bought a new stake in Avis Budget Group in the fourth quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Avis Budget Group in the 1st quarter valued at approximately $38,000. National Bank of Canada FI raised its stake in shares of Avis Budget Group by 150.4% in the fourth quarter. National Bank of Canada FI now owns 303 shares of the business services provider's stock valued at $50,000 after purchasing an additional 182 shares in the last quarter. Signaturefd LLC raised its position in Avis Budget Group by 160.7% in the third quarter. Signaturefd LLC now owns 352 shares of the business services provider's stock worth $52,000 after purchasing an additional 217 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Avis Budget Group by 1,129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 381 shares of the business services provider's stock valued at $62,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company's stock.
About Avis Budget Group
(Get Rating)
Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment includes the company's brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.
See Also
- Get a free copy of the StockNews.com research report on Avis Budget Group (CAR)
- Will Forced Divesture Of Grail Boost Illumina Shareholder Value?
- Eaton Corporation Goes On Break Out Watch
- 5 Best Ethanol Stocks to Buy Now
- Wall Street Thinks These 3 MegaCaps Have the Biggest Gains Ahead
- NXP Semiconductors: Cautious Optimism Driven by Auto Segment
Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.