Alaska Permanent Fund Corp Raises Holdings in Avis Budget Group, Inc. (NASDAQ:CAR)

Alaska Permanent Fund Corp boosted its stake in shares of Avis Budget Group, Inc. (NASDAQ:CAR) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,353 shares of the business services provider’s stock after acquiring an additional 253 shares during the period. Alaska Permanent Fund Corp’s holdings in Avis Budget Group were worth $2,190,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CAR. Arizona State Retirement System boosted its position in shares of Avis Budget Group by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 6,226 shares of the business services provider’s stock worth $1,119,000 after acquiring an additional 84 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Avis Budget Group by 2.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,270 shares of the business services provider’s stock worth $767,000 after acquiring an additional 89 shares in the last quarter. Huntington National Bank boosted its position 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 acquiring an additional 105 shares in the last quarter. Invst LLC boosted its position in shares of Avis Budget Group by 3.2% during the 3rd quarter. Invst LLC now owns 3,751 shares of the business services provider’s stock worth $674,000 after acquiring an additional 116 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Avis Budget Group by 2.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 5,759 shares of the business services provider’s stock worth $1,035,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Avis Budget Group Trading Down 0.3 %

Shares of CAR stock opened at $99.25 on Friday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 2.34 and a beta of 2.22. The stock has a 50 day simple moving average of $111.89 and a 200-day simple moving average of $153.66. Avis Budget Group, Inc. has a 12-month low of $93.53 and a 12-month high of $244.95.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating 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 firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the business posted $10.46 EPS. Avis Budget Group’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Avis Budget Group, Inc. will post 14.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAR shares. JPMorgan Chase & Co. decreased their target price on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Susquehanna decreased their target price on Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Northcoast Research raised Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Monday, March 25th. Finally, The Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.86.

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.