Avis Budget Group (NASDAQ:CAR) Trading Up 7.5% – Time to Buy?

Avis Budget Group, Inc. (NASDAQ:CAR) rose 7.5% during trading on Wednesday . The stock traded as high as $106.60 and last traded at $106.60. Approximately 334,303 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 721,180 shares. The stock had previously closed at $99.20.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Barclays began coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Susquehanna cut their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Avis Budget Group presently has an average rating of “Moderate Buy” and an average price target of $133.13.

Avis Budget Group Trading Up 0.9 %

The company has a fifty day moving average price of $84.21 and a two-hundred day moving average price of $96.31. The firm has a market capitalization of $3.74 billion, a PE ratio of 9.73 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing the consensus estimate of $8.55 by ($1.90). The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $16.78 EPS. As a group, equities research analysts predict that Avis Budget Group, Inc. will post 5.24 earnings per share for the current year.

Institutional Trading of Avis Budget Group

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Avis Budget Group by 4.0% in the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock valued at $293,825,000 after purchasing an additional 129,805 shares in the last quarter. Rubric Capital Management LP increased its holdings in Avis Budget Group by 220.9% in the second quarter. Rubric Capital Management LP now owns 690,273 shares of the business services provider’s stock valued at $72,147,000 after buying an additional 475,181 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Avis Budget Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock valued at $51,883,000 after acquiring an additional 2,561 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Avis Budget Group by 19,203.5% in the 3rd quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after acquiring an additional 478,552 shares during the period. Finally, JAT Capital Mgmt LP increased its stake in Avis Budget Group by 24.5% in the 3rd quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock valued at $34,876,000 after purchasing an additional 78,383 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

About Avis Budget Group

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.