Avis Budget Group (NASDAQ:CAR) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of Avis Budget Group, Inc. (NASDAQ:CAR) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $93.73 and traded as low as $78.91. Avis Budget Group shares last traded at $81.76, with a volume of 603,705 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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 cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. Barclays assumed coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Price Performance

The stock has a market cap of $2.87 billion, a PE ratio of 7.47 and a beta of 2.25. The stock has a 50-day moving average price of $93.73 and a two-hundred day moving average price of $91.70.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Thursday, October 31st. The business services provider reported $6.65 EPS for the quarter, missing analysts’ consensus estimates of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the business earned $16.78 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Avis Budget Group, Inc. will post 3.59 earnings per share for the current year.

Institutional Investors Weigh In On Avis Budget Group

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Avis Budget Group by 118.8% in the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Avis Budget Group in the third quarter valued at approximately $263,000. M&T Bank Corp purchased a new position in Avis Budget Group in the third quarter worth $333,000. Barclays PLC increased its position in shares of Avis Budget Group by 30.5% during the third quarter. Barclays PLC now owns 200,576 shares of the business services provider’s stock worth $17,571,000 after purchasing an additional 46,922 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Avis Budget Group during the 3rd quarter valued at $685,000. 96.35% of the stock is currently owned by hedge funds and other 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.