Avis Budget Group (NASDAQ:CAR) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Avis Budget Group (NASDAQ:CAR – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the business services provider’s stock.

Several other analysts also recently weighed in on the stock. Susquehanna Bancshares initiated coverage on shares of Avis Budget Group in a research report on Tuesday, December 6th. They issued a neutral rating and a $225.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Avis Budget Group from $160.00 to $175.00 and gave the company an underweight rating in a research report on Thursday, February 23rd. Susquehanna lifted their price objective on shares of Avis Budget Group from $225.00 to $240.00 and gave the company a neutral rating in a research report on Wednesday, February 15th. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $227.00.

Avis Budget Group Price Performance

NASDAQ CAR opened at $173.38 on Thursday. Avis Budget Group has a 12 month low of $131.83 and a 12 month high of $327.80. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 3.03 and a beta of 2.34. The company’s fifty day moving average price is $207.82 and its two-hundred day moving average price is $194.54.

Avis Budget Group (NASDAQ:CAR – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The business services provider reported $10.46 EPS for the quarter, beating analysts’ consensus estimates of $6.85 by $3.61. Avis Budget Group had a net margin of 23.05% and a negative return on equity of 395.49%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm posted $7.08 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Avis Budget Group will post 28.24 EPS for the current year.

Insider Buying and Selling at Avis Budget Group

In related news, EVP Edward P. Linnen sold 7,300 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 29,168 shares in the company, valued at approximately $7,075,573.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Edward P. Linnen sold 7,300 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $242.58, for a total value of $1,770,834.00. Following the completion of the sale, the executive vice president now directly owns 29,168 shares of the company’s stock, valued at approximately $7,075,573.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Krominga sold 887 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $226.30, for a total value of $200,728.10. Following the completion of the sale, the director now directly owns 628 shares of the company’s stock, valued at $142,116.40. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.

Hedge Funds Weigh In On Avis Budget Group

Large investors have recently bought and sold shares of the company. Point72 Middle East FZE bought a new position in Avis Budget Group during the 4th quarter worth $2,300,000. State of Wyoming acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at about $80,000. CI Private Wealth LLC acquired a new stake in shares of Avis Budget Group during the fourth quarter valued at about $719,000. Lazard Asset Management LLC lifted its stake in shares of Avis Budget Group by 8.8% in the fourth quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider’s stock worth $87,000 after acquiring an additional 43 shares during the period. Finally, Chimera Capital Management LLC lifted its stake in shares of Avis Budget Group by 25.7% in the fourth quarter. Chimera Capital Management LLC now owns 15,841 shares of the business services provider’s stock worth $2,597,000 after acquiring an additional 3,241 shares during the period. Institutional investors and hedge funds 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.