Avis Budget Group (NASDAQ:CAR) Stock Price Up 7.5% – Should You Buy?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) rose 7.5% on Wednesday . The stock traded as high as $106.60 and last traded at $106.60. Approximately 334,303 shares changed hands during 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

CAR has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Avis Budget Group from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays assumed coverage on Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 target price for the company. StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Susquehanna lowered their price target on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report 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 stock. According to MarketBeat, Avis Budget Group has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Avis Budget Group Stock Performance

The stock has a market cap of $3.71 billion, a P/E ratio of 9.71 and a beta of 2.14. The firm has a 50-day moving average price of $83.59 and a 200-day moving average price of $96.25.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.55 by ($1.90). The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $16.78 EPS. On average, 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

Several institutional investors have recently added to or reduced their stakes in the business. Central Valley Advisors LLC purchased a new position in shares of Avis Budget Group in the 2nd quarter worth $25,000. EntryPoint Capital LLC raised its holdings in Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock worth $28,000 after purchasing an additional 124 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings in Avis Budget Group by 198.3% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock worth $32,000 after purchasing an additional 240 shares during the period. Nisa Investment Advisors LLC raised its holdings in Avis Budget Group by 293.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock worth $36,000 after purchasing an additional 305 shares during the period. Finally, Signaturefd LLC raised its holdings in Avis Budget Group by 180.0% in the 2nd quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after purchasing an additional 459 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.