Avis Budget Group Inc

Shares of Avis Budget Group Sink After Second Quarter Results Fuel Fear

The firm has "Buy" rating given on Thursday, February 25 by Deutsche Bank. Nevertheless, a reduction in full-year earnings guidance from Avis weighed on investor sentiment, and until the company can demonstrate a viable path toward a turnaround, the stock could remain under pressure. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2017/08/08/state-of-new-jersey-common-pension-fund-d-raises-stake-in-avis-budget-group-inc-nasdaqcar.html.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Managed Accounts LLC purchased a new stake in shares of Avis Budget Group during the first quarter worth approximately $102,000. See Avis Budget Group Inc. May 5 investment analysts at JP Morgan made no change to the stock rating of "Neutral" and lowered the price expectation to $24.00 from $49.00. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Avis Budget Group during the first quarter valued at $301,000. LS Investment Advisors LLC now owns 8,881 shares of the business services provider's stock worth $242,000 after buying an additional 1,024 shares in the last quarter. (NASDAQ:CAR) has "Buy" rating given on Tuesday, March 22 by Sterne Agee CRT. Credit Suisse maintained the shares of CAR in report on Thursday, February 25 with "Outperform" rating. Auto is down around 31.17% from its 12-month high of $20.71 notched on Jun 09, 2017 but is -38.02% above its highest point the past 12 months of $41.53 a share. They may also be used to assist the trader figure out proper support and resistance levels for the stock. The share price has moved backward from its 20 days moving average, trading at a distance of -5.26% and stays 10.82% away from its 50 days moving average. It has a 31.18 P/E ratio. More interesting news about Avis Budget Group Inc. (NASDAQ:CAR)'s latest quote $30.09 $0.31 -9.88% will find technical support in $29.05 a share and a breakdown below this region would be a significantly bearish signal for Avis Budget Group, Inc. traders. Avis Budget Group also was the recipient of unusually large options trading activity on Monday. The day's total volume of 11494196 this morning is in contrast from the three-month daily average of 3791.93K.

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Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 7th. Hanseatic Mngmt Ser Inc has 0.01% invested in Avis Budget Group Inc. The company has a market cap of $6.72B and its 12 month revenue was nearly $3.59B. The business services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.62 by $0.32. The firm's revenue for the quarter was down.2% compared to the same quarter past year. Image source: Avis Budget. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and global copyright and trademark legislation.

A number of research firms have recently issued reports on auto. The firm has "Buy" rating by Stifel Nicolaus given on Monday, December 21. The rating was initiated by Macquarie Research with "Outperform" on Friday, August 26. Avis Budget Group now has an average rating of "Hold" and a consensus target price of $36.40. Also, the number of investment managers holding Avis Budget Group Inc in their top 10 equity positions increased from 3 to 4 for an increase of 1. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of "Hold" and an average target price of $36.40.

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