Impax Asset Management Group plc Invests $749,000 in Avis Budget Group, Inc. (NASDAQ:CAR)

Impax Asset Management Group plc bought a new stake in shares of Avis Budget Group, Inc. (NASDAQ:CARFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,224 shares of the business services provider’s stock, valued at approximately $749,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of Avis Budget Group by 101.0% during the 3rd quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock worth $38,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Avis Budget Group during the first quarter valued at about $70,000. Fortis Capital Advisors LLC bought a new position in Avis Budget Group during the fourth quarter valued at about $79,000. State of Wyoming acquired a new position in Avis Budget Group in the 4th quarter valued at approximately $80,000. Finally, Lazard Asset Management LLC lifted its position in shares of Avis Budget Group by 8.8% in the 4th quarter. Lazard Asset Management LLC now owns 532 shares of the business services provider’s stock worth $87,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

CAR has been the subject of a number of recent research reports. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, March 25th. JPMorgan Chase & Co. reduced their price objective on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Susquehanna lowered their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised Avis Budget Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $234.00 to $248.00 in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.14.

Check Out Our Latest Report on Avis Budget Group

Avis Budget Group Stock Up 0.9 %

NASDAQ:CAR opened at $121.04 on Friday. The firm has a market cap of $4.32 billion, a PE ratio of 2.84 and a beta of 2.22. The company’s 50-day moving average price is $121.33 and its two-hundred day moving average price is $158.59. Avis Budget Group, Inc. has a 12 month low of $99.60 and a 12 month high of $244.95.

Avis Budget Group (NASDAQ:CARGet Free Report) last announced its earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, topping the consensus estimate of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $10.46 EPS. Avis Budget Group’s revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Avis Budget Group, Inc. will post 15.55 EPS for the current fiscal year.

Avis Budget Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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