Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been assigned an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.14.
Several analysts have weighed in on CAR shares. Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research note on Monday, April 16th. BidaskClub cut shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 9th. Barclays lifted their price objective on shares of Avis Budget Group from $33.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 26th. Morgan Stanley started coverage on shares of Avis Budget Group in a research note on Tuesday, June 26th. They issued an “underweight” rating and a $30.00 price objective for the company. Finally, ValuEngine cut shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd.
In other Avis Budget Group news, Director Lynn Krominga sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 305 shares of the company’s stock, valued at approximately $12,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael K. Tucker sold 7,218 shares of the firm’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $43.00, for a total transaction of $310,374.00. Following the completion of the transaction, the executive vice president now directly owns 64,354 shares in the company, valued at $2,767,222. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CAR. Renaissance Technologies LLC bought a new stake in shares of Avis Budget Group during the 4th quarter valued at approximately $4,695,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Avis Budget Group by 81.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,242 shares of the business services provider’s stock worth $362,000 after acquiring an additional 3,702 shares during the last quarter. Millennium Management LLC bought a new stake in Avis Budget Group during the 4th quarter worth approximately $1,024,000. Xact Kapitalforvaltning AB bought a new stake in Avis Budget Group during the 4th quarter worth approximately $272,000. Finally, New York State Teachers Retirement System grew its holdings in Avis Budget Group by 88.9% during the 1st quarter. New York State Teachers Retirement System now owns 13,600 shares of the business services provider’s stock worth $637,000 after acquiring an additional 6,400 shares during the last quarter.
Shares of Avis Budget Group traded down $0.72, reaching $33.71, during mid-day trading on Tuesday, according to Marketbeat. 1,828,882 shares of the company were exchanged, compared to its average volume of 2,234,693. The company has a debt-to-equity ratio of 41.18, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market cap of $2.73 billion, a PE ratio of 10.19 and a beta of 2.06. Avis Budget Group has a twelve month low of $30.67 and a twelve month high of $50.88.
Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. During the same quarter last year, the company posted $0.30 EPS. analysts predict that Avis Budget Group will post 3.51 EPS for the current fiscal year.
Avis Budget Group Company Profile
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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