Avis Budget Group (NASDAQ:CAR – Get Rating) had its price target lowered by Susquehanna from $240.00 to $195.00 in a report issued on Wednesday, The Fly reports.

Several other research analysts also recently commented on CAR. StockNews.com initiated coverage on Avis Budget Group in a report on Thursday, March 16th. They issued a hold rating on the stock. JPMorgan Chase & Co. lifted their price objective on Avis Budget Group from $270.00 to $275.00 and gave the stock an overweight rating in a report on Wednesday, February 15th. Finally, Morgan Stanley lifted their price objective on Avis Budget Group from $160.00 to $175.00 and gave the stock an underweight rating in a report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Avis Budget Group currently has a consensus rating of Hold and an average target price of $219.57.

Avis Budget Group Trading Down 2.1 %

Shares of CAR opened at $168.09 on Wednesday. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 2.94 and a beta of 2.32. The stock has a 50 day moving average of $189.57 and a 200 day moving average of $198.86. Avis Budget Group has a 12 month low of $131.83 and a 12 month high of $299.00.

Avis Budget Group (NASDAQ:CAR – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $7.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $4.38. Avis Budget Group had a negative return on equity of 395.49% and a net margin of 23.05%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the company earned $9.99 earnings per share. The firm's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Avis Budget Group will post 29.64 earnings per share for the current year.

Insider Activity

In related news, Director Lynn Krominga sold 887 shares of the firm's stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total value of $200,728.10. Following the transaction, the director now directly owns 628 shares of the company's stock, valued at approximately $142,116.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Avis Budget Group news, Director Lynn Krominga sold 887 shares of the firm's stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $226.30, for a total transaction of $200,728.10. Following the sale, the director now directly owns 628 shares of the company's stock, valued at $142,116.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward P. Linnen sold 7,300 shares of the firm's stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $242.58, for a total value of $1,770,834.00. Following the sale, the executive vice president now directly owns 29,168 shares in the company, valued at $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

Institutional investors have recently made changes to their positions in the company. AXS Investments LLC bought a new stake in Avis Budget Group in the fourth quarter worth about $25,000. Headlands Technologies LLC bought a new stake in Avis Budget Group in the first quarter worth about $38,000. National Bank of Canada FI lifted its stake in 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 worth $50,000 after purchasing an additional 182 shares during the last quarter. Signaturefd LLC lifted its stake 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 during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Avis Budget Group by 1,129.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 381 shares of the business services provider's stock valued at $62,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 98.31% of the company's stock.

Avis Budget Group Company Profile

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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.

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