Avis Budget Group (NASDAQ:CAR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research report report published on Saturday.

Other analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Avis Budget Group in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Barclays decreased their price objective on shares of Avis Budget Group from $150.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Morgan Stanley reissued an “equal weight” rating and set a $142.00 target price (up from $115.00) on shares of Avis Budget Group in a research note on Monday, December 8th. Finally, Susquehanna decreased their target price on Avis Budget Group from $145.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $134.71.

Avis Budget Group Trading Down 9.1%

Shares of NASDAQ CAR opened at $87.69 on Friday. Avis Budget Group has a twelve month low of $54.03 and a twelve month high of $212.81. The firm has a 50-day moving average of $122.29 and a two-hundred day moving average of $138.75. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -3.45 and a beta of 2.33.

Hedge Funds Weigh In On Avis Budget Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Avis Budget Group during the 4th quarter valued at about $27,000. Deseret Mutual Benefit Administrators raised 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 valued at $28,000 after acquiring an additional 88 shares during the last quarter. Basepoint Wealth LLC acquired a new position in shares of Avis Budget Group in the 4th quarter worth approximately $32,000. Hantz Financial Services Inc. grew its position 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 worth $41,000 after acquiring an additional 146 shares during the last quarter. Finally, American Wealth Advisors LLC bought a new stake in Avis Budget Group during the 3rd quarter worth approximately $41,000. 96.35% of the stock is owned by institutional investors.

Avis Budget Group Company Profile

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.