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

StockNews.com downgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research note published on Thursday morning.

Other analysts also recently issued research reports about the stock. Bank of America decreased 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. JPMorgan Chase & Co. cut their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft decreased their price target on Avis Budget Group from $202.00 to $183.00 and set a buy rating for the company in a research note on Thursday, April 18th. Northcoast Research upgraded Avis Budget Group from a neutral rating to a buy rating and set a $155.00 price objective on the stock in a research note on Monday, March 25th. Finally, Morgan Stanley decreased their target price on 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $164.57.

Avis Budget Group Stock Up 1.6 %

Shares of Avis Budget Group stock traded up $1.83 during trading hours on Thursday, hitting $115.60. The company’s stock had a trading volume of 1,058,913 shares, compared to its average volume of 903,108. The business has a fifty day moving average of $111.63 and a 200 day moving average of $150.53. Avis Budget Group has a 1-year low of $93.53 and a 1-year high of $244.95. The company has a market capitalization of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($3.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. Avis Budget Group’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $7.72 EPS. On average, sell-side analysts anticipate that Avis Budget Group will post 13.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank lifted its holdings in Avis Budget Group by 101.0% in the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 105 shares during the last quarter. Denali Advisors LLC lifted its stake in Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 112 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in Avis Budget Group by 15,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC bought a new stake in Avis Budget Group during the fourth quarter worth approximately $79,000. Finally, Covestor Ltd grew its position in Avis Budget Group by 733.9% in the third quarter. Covestor Ltd now owns 517 shares of the business services provider’s stock worth $93,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds 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.