Avis Budget Group (NASDAQ:CAR) Stock Price Down 9.2% – Should You Sell?

Avis Budget Group, Inc. (NASDAQ:CAR)’s share price fell 9.2% during mid-day trading on Wednesday . The stock traded as low as $81.29 and last traded at $81.48. 230,016 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 527,525 shares. The stock had previously closed at $89.71.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAR shares. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Northcoast Research downgraded Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Hold” and a consensus target price of $133.75.

Avis Budget Group Stock Down 7.5 %

The firm’s fifty day moving average price is $88.75 and its two-hundred day moving average price is $88.37. The stock has a market capitalization of $2.92 billion, a PE ratio of 7.59 and a beta of 2.26.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. As a group, analysts predict that Avis Budget Group, Inc. will post 3.69 EPS for the current year.

Institutional Trading of Avis Budget Group

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Avis Budget Group by 4.0% during the 3rd quarter. FMR LLC now owns 3,354,546 shares of the business services provider’s stock worth $293,825,000 after acquiring an additional 129,805 shares during the last quarter. State Street Corp lifted its position in Avis Budget Group by 2.5% during the third quarter. State Street Corp now owns 672,227 shares of the business services provider’s stock valued at $58,880,000 after purchasing an additional 16,221 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Avis Budget Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 592,341 shares of the business services provider’s stock valued at $51,883,000 after purchasing an additional 2,561 shares during the period. International Assets Investment Management LLC raised its stake in shares of Avis Budget Group by 19,203.5% in the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider’s stock worth $421,350,000 after buying an additional 478,552 shares during the period. Finally, JAT Capital Mgmt LP lifted its position in shares of Avis Budget Group by 24.5% during the 3rd quarter. JAT Capital Mgmt LP now owns 398,170 shares of the business services provider’s stock valued at $34,876,000 after buying an additional 78,383 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.