Avis Budget (NASDAQ:CAR) Rating Reaffirmed
The brokerage firm has just set a TP of $63 on Avis Budget (NASDAQ:CAR) shares. This is 90.79% from the stock close price. In recent note revealed to investors on 14 December, MKM Partners reiterated their “Buy” rating on shares of CAR.
From a total of 9 analysts covering Avis Budget (NASDAQ:CAR) stock, 5 rate it a ”Buy”, 1 a “Sell”, and 3 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $77 while the lowest target price is $24. The mean of all analyst targets is $54.5 with a 52.42% above today’s ($33.02) stock price. Avis Budget was the topic of 4 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 16 with “Equal Weight” rating.
Approximately 708,271 shares of stock traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has declined 35.37% since May 11, 2015 and is downtrending. It has underperformed by 30.96% the S&P500.
The overall sentiment of institutions has decreased to 0.79 in Q2 2015. Its down 0.24, from 1.03 in 2015Q2. The ratio turned negative, as 62 institutions have sold all the shares of Avis Budget Group Inc. that they owned while 77 funds have taken shares off the table. 30 funds have purchased shares for the first time while 80 added to their positions. These institutions now hold 121.10 million shares or 9.57% more than the 110.51 million shares they owned in 2015Q2.
The Fund Srs Investment Management Llc currently is holding shares equating to 13.76% of its total portfolio in Avis Budget Group Inc. representing a total of 9.50 million shares. Another fund,Marcato Capital Management Lp, is holding a total of 5.72 million shares equating to 12.53% of their holdings. Additionally, Tiger Veda Management Llc has a 342,778 share stake in Avis Budget Group Inc. which represents 8.93% of their total portfolio. The Fund, Mountain Lake Investment Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 7.79% of their total portfolio. Finally T2 Partners Management Lp, a fund which is based in the state of New York reported a total holdings of 73,491 shares.
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.38 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has 10.2 P/E ratio. Avis is a rental car supplier and Budget is a rental vehicle supplier.
According to Zacks Investment Research, “Avis Budget Group, Inc. is a leading provider of vehicle rental services, with operations in more than seventy countries. Through its Avis and Budget brands, the company is the largest general-use vehicle rental company in each of North America, Australia, New Zealand and certain other regions. Avis Budget Group is headquartered in Parsippany, N.J. Avis is a leading supplier to the premium commercial and leisure segments of the travel industry, and Budget is a leading supplier to price-conscious car rental segments. Avis Budget Group maintains the leading share of airport car rental revenue, and we operate the second largest consumer truck rental business in the United States. The company generate significant benefits from operating two distinctive car rental brands targeting different market segments but share the same fleet, maintenance facilities, technology and administrative infrastructure”