Avis Budget Group (NASDAQ:CAR) Price Target Cut to $95.00 by Analysts at Barclays

Avis Budget Group (NASDAQ:CAR) had its price objective decreased by Barclays from $120.00 to $95.00 in a report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

A number of other research firms also recently issued reports on CAR. Wall Street Zen downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Weiss Ratings restated a “sell (d)” rating on shares of Avis Budget Group in a report on Wednesday, January 21st. Susquehanna decreased their price objective on shares of Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Zacks Research downgraded Avis Budget Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group set a $85.00 target price on Avis Budget Group in a report on Monday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Avis Budget Group has a consensus rating of “Reduce” and a consensus target price of $131.14.

Avis Budget Group Stock Up 3.9%

Shares of Avis Budget Group stock opened at $96.54 on Thursday. Avis Budget Group has a 52 week low of $54.03 and a 52 week high of $212.81. The business has a 50 day moving average price of $120.13 and a 200-day moving average price of $137.72. The company has a market cap of $3.40 billion, a PE ratio of -3.80 and a beta of 2.33.

Insider Buying and Selling at Avis Budget Group

In other news, major shareholder Pentwater Capital Management L acquired 425,000 shares of Avis Budget Group stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $94.26 per share, with a total value of $40,060,500.00. Following the completion of the acquisition, the insider owned 3,987,100 shares in the company, valued at approximately $375,824,046. This trade represents a 11.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Krominga sold 1,950 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $91.54, for a total value of $178,503.00. The SEC filing for this sale provides additional information. 52.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avis Budget Group

Several institutional investors have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators increased its stake in shares of Avis Budget Group by 102.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 174 shares of the business services provider’s stock worth $28,000 after purchasing an additional 88 shares in the last quarter. Quarry LP purchased a new position in Avis Budget Group in the 4th quarter valued at approximately $27,000. Basepoint Wealth LLC purchased a new position in Avis Budget Group in the 4th quarter valued at approximately $32,000. Hantz Financial Services Inc. raised its holdings in Avis Budget Group by 136.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 253 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 146 shares during the period. Finally, American Wealth Advisors LLC purchased a new stake in shares of Avis Budget Group during the third quarter worth $41,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Avis Budget Group

Avis Budget Group, Inc operates as a leading global provider of vehicle rental and mobility solutions. Through its two core brands, Avis® and Budget®, the company offers a broad range of rental options including daily, weekly and monthly car rentals for leisure and business travelers. In addition to traditional airport and off-airport car rental services, Avis Budget Group delivers innovative mobility platforms such as car-sharing programs and connected fleet solutions designed to meet the evolving needs of corporate, government and individual customers.

The company’s roots trace back to Avis Rent a Car, founded in 1946, and Budget Rent a Car, established in 1958.