Price T Rowe Associates Inc. MD increases holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Price T Rowe Associates Inc. MD increased its holdings in Avis Budget Group, Inc. (NASDAQ:CAR – Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,593 shares of the business services provider’s stock after purchasing an additional 337 shares during the period. Price T Rowe Associates Inc Holdings MD’s holdings in Avis Budget Group were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP raised its position in Avis Budget Group by 4.8% during the fourth quarter. Aigen Investment Management LP now owns 1,303 shares of the business services provider’s stock worth $231,000 after purchasing an additional 60 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Avis Budget Group by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,540 shares of the business services provider’s stock valued at $450,000 after purchasing an additional 79 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Avis Budget Group by 4.0% in the fourth quarter. New York Life Investment Management LLC now owns 2,265 shares of the business services provider’s stock worth $401,000 after acquiring an additional 87 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Avis Budget Group by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,300 shares of the business services provider’s stock worth $649,000 after acquiring an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Avis Budget Group by 2.2% in the first quarter. State of Michigan Retirement System now owns 4,573 shares of the business services provider’s stock valued at $560,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s shares.

The Wall Street analyst weighs in

A number of analysts have commented on the stock. Susquehanna cut their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a report on Friday. Goldman Sachs Group dropped their price target on shares of Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America lowered their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, April 18th . Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $148.57, according to MarketBeat.com.

See our latest review of Avis Budget Group

Avis Budget Group stocks fell 2.6%

Shares of NASDAQ CAR opened at $86.96 on Friday. The company’s 50-day moving average price is $104.04 and its 200-day moving average price is $115.95. The firm has a market cap of $3.10 billion, a P/E ratio of 2.74 and a beta of 2.21. Avis Budget Group, Inc. it has a 52-week low of $79.03 and a 52-week high of $235.64.

Avis Budget Group (NASDAQ:CAR – Get Your Free Report ) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19). Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. In the same quarter in the previous year, the business posted EPS of $11.01. The company’s revenue for the quarter was down 2.4% year over year. As a group, research analysts expect Avis Budget Group, Inc. to post 12.28 earnings per share for the current year.

About Avis Budget Group

(Free Report)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, 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, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; and the Zipcar brand, a car-sharing network, as well as the Budget brand, a provider of vehicle rental and other mobility solutions focused primarily on value-conscious customers, comprising Budget car rental and Budget Truck, a local and unique. truck and cargo van rental business with a fleet of approximately 19,000 vehicles that are leased through a network of dealer-operated and company-operated locations serving the light commercial and consumer sectors in the continental United States.

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