Avis Budget Group, Inc. (CAR) – What Are Brokerages Saying About This Stock?

Avis Budget Group, Inc. (NASDAQ:CAR) has been given an average rating of “Reduce” by the nine brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $119.29.

A number of research analysts have recently issued reports on CAR shares. Barclays cut their price target on Avis Budget Group from $160.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday. Zacks Research lowered Avis Budget Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. The Goldman Sachs Group upped their price objective on Avis Budget Group from $85.00 to $95.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. dropped their price objective on Avis Budget Group from $145.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, October 8th. Finally, Wall Street Zen lowered Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Institutional Trading of Avis Budget Group

Hedge funds have recently modified their holdings of the company. Pentwater Capital Management LP bought a new position in shares of Avis Budget Group during the 2nd quarter worth approximately $371,541,000. Hsbc Holdings PLC purchased a new stake in Avis Budget Group during the second quarter valued at approximately $247,773,000. BlackRock Inc. purchased a new stake in Avis Budget Group during the second quarter valued at approximately $245,413,000. Cibc World Market Inc. purchased a new stake in Avis Budget Group during the second quarter valued at approximately $73,915,000. Finally, Mizuho Markets Americas LLC boosted its stake in Avis Budget Group by 7.4% in the first quarter. Mizuho Markets Americas LLC now owns 400,000 shares of the business services provider’s stock valued at $58,340,000 after acquiring an additional 27,500 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Avis Budget Group Stock Up 3.3%

Shares of NASDAQ:CAR opened at $111.52 on Tuesday. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -6.14 and a beta of 2.12. Avis Budget Group has a 52 week low of $85.96 and a 52 week high of $847.70. The firm has a 50 day moving average of $116.31 and a 200 day moving average of $153.06.

About Avis Budget Group

Avis Budget Group, Inc is a provider of mobility and vehicle-rental services. Through its Avis and Budget brands, the company offers car and truck rentals to business and leisure customers, serving travelers through airport and neighborhood locations as well as digital booking channels.

The company also operates Zipcar, a car-sharing service that provides members with access to vehicles for short-term use. Its brand portfolio has also included Payless, which serves value-oriented rental customers.