Avis Budget Group, Inc. (NASDAQ:CAR) Stock Position Increased by Chase Investment Counsel Corp

Chase Investment Counsel Corp grew its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the business services provider’s stock after purchasing an additional 3,000 shares during the period. Chase Investment Counsel Corp’s holdings in Avis Budget Group were worth $1,313,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. EntryPoint Capital LLC increased its stake in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 124 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Avis Budget Group by 4.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,223 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 138 shares during the period. US Bancorp DE raised its stake in shares of Avis Budget Group by 5.2% in the 1st quarter. US Bancorp DE now owns 3,123 shares of the business services provider’s stock worth $382,000 after buying an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after buying an additional 240 shares during the period. Finally, Central Valley Advisors LLC bought a new position in Avis Budget Group during the second quarter valued at about $25,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Avis Budget Group Price Performance

Avis Budget Group stock opened at $99.20 on Wednesday. Avis Budget Group, Inc. has a fifty-two week low of $65.73 and a fifty-two week high of $204.77. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 9.06 and a beta of 2.14. The firm has a fifty day moving average price of $83.59 and a two-hundred day moving average price of $96.25.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the company earned $16.78 earnings per share. Avis Budget Group’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Avis Budget Group, Inc. will post 5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Barclays initiated coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target on the stock. Finally, Susquehanna decreased their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

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.