Avis Budget Group (NASDAQ:CAR – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price target on Avis Budget Group from $238.00 to $184.00 and set a “hold” rating on the stock in a report on Wednesday. Barclays lowered their price target on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 5th. Bank of America downgraded Avis Budget Group from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $250.00 to $240.00 in a report on Wednesday, April 6th. Finally, Morgan Stanley lowered their price target on Avis Budget Group from $168.00 to $156.00 and set an “underweight” rating on the stock in a report on Tuesday, June 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Avis Budget Group presently has an average rating of “Hold” and an average target price of $182.40.

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Shares of CAR stock opened at $156.93 on Thursday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 0.20 and a beta of 2.11. The business’s fifty day moving average is $179.96 and its 200 day moving average is $206.72. Avis Budget Group has a twelve month low of $65.87 and a twelve month high of $545.11.

Avis Budget Group (NASDAQ:CAR – Get Rating) last released its earnings results on Monday, May 2nd. The business services provider reported $9.99 EPS for the quarter, topping the consensus estimate of $3.54 by $6.45. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted ($0.46) earnings per share. As a group, equities research analysts predict that Avis Budget Group will post 39.29 earnings per share for the current year.

In related news, Chairman Bernardo Hees purchased 28,334 shares of Avis Budget Group stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $172.78 per share, for a total transaction of $4,895,548.52. Following the completion of the transaction, the chairman now directly owns 450,476 shares in the company, valued at approximately $77,833,243.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 83,734 shares of company stock valued at $14,792,435. Company insiders own 37.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Avis Budget Group by 1.2% during the first quarter. State Street Corp now owns 1,458,488 shares of the business services provider’s stock worth $384,020,000 after purchasing an additional 16,655 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Avis Budget Group by 224.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,299,208 shares of the business services provider’s stock valued at $269,417,000 after buying an additional 899,208 shares during the last quarter. Bank of America Corp DE boosted its stake in Avis Budget Group by 203.5% during the first quarter. Bank of America Corp DE now owns 789,094 shares of the business services provider’s stock valued at $207,769,000 after buying an additional 529,066 shares during the last quarter. Northern Trust Corp boosted its stake in Avis Budget Group by 0.6% during the first quarter. Northern Trust Corp now owns 622,685 shares of the business services provider’s stock valued at $163,952,000 after buying an additional 3,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Avis Budget Group by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 539,925 shares of the business services provider’s stock valued at $142,145,000 after buying an additional 4,861 shares during the last quarter.

About Avis Budget Group (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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