State of New Jersey Common Pension Fund D boosted its position in Avis Budget Group, Inc. (NASDAQ:CAR) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 750,000 shares of the business services provider’s stock after buying an additional 50,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avis Budget Group were worth $20,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Avis Budget Group during the fourth quarter worth about $503,000. Bank of Montreal Can increased its position in Avis Budget Group by 17,945.7% in the first quarter. Bank of Montreal Can now owns 1,022,833 shares of the business services provider’s stock worth $30,256,000 after buying an additional 1,017,165 shares during the last quarter. Capstone Asset Management Co. increased its position in Avis Budget Group by 0.9% in the first quarter. Capstone Asset Management Co. now owns 11,155 shares of the business services provider’s stock worth $330,000 after buying an additional 100 shares during the last quarter. James Investment Research Inc. bought a new position in Avis Budget Group during the first quarter worth about $113,000. Finally, First Manhattan Co. increased its position in Avis Budget Group by 2.1% in the first quarter. First Manhattan Co. now owns 308,060 shares of the business services provider’s stock worth $10,538,000 after buying an additional 6,470 shares during the last quarter.

Shares of Avis Budget Group, Inc. (CAR) opened at 33.39 on Tuesday. Avis Budget Group, Inc. has a 52 week low of $20.71 and a 52 week high of $41.53. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 28.25 and a beta of 2.49. The firm’s 50-day moving average is $28.18 and its 200-day moving average is $29.89.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, July 31st. The business services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.62 by $0.32. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Avis Budget Group had a net margin of 1.24% and a return on equity of 74.55%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts predict that Avis Budget Group, Inc. will post $2.84 earnings per share for the current year.

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A number of research analysts recently issued reports on CAR shares. Credit Suisse Group dropped their target price on shares of Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Morgan Stanley dropped their target price on shares of Avis Budget Group from $23.00 to $19.00 and set an “underweight” rating on the stock in a research report on Monday, May 8th. Raymond James Financial, Inc. upgraded shares of Avis Budget Group from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Tuesday, May 9th. ValuEngine downgraded shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $45.00 target price on shares of Avis Budget Group in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.40.

Avis Budget Group Company Profile

Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.

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Institutional Ownership by Quarter for Avis Budget Group (NASDAQ:CAR)

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