Other equities research analysts also recently issued reports about the company. TheStreet upgraded Avis Budget Group from a “c” rating to a “b-” rating in a research report on Friday, December 6th. Deutsche Bank restated a “hold” rating and issued a $31.00 target price on shares of Avis Budget Group in a research report on Wednesday, November 20th. ValuEngine upgraded Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group started coverage on Avis Budget Group in a research report on Thursday, November 21st. They set a “buy” rating for the company. Finally, Barclays reiterated a “hold” rating and set a $33.00 price objective on shares of Avis Budget Group in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.25.
CAR opened at $41.30 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 18.19 and a beta of 2.06. The company has a debt-to-equity ratio of 34.23, a current ratio of 0.94 and a quick ratio of 0.94. Avis Budget Group has a 1-year low of $23.86 and a 1-year high of $41.88. The business has a 50 day moving average price of $34.56 and a two-hundred day moving average price of $30.62.
In other news, CEO Shon Larry D. De sold 25,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.00, for a total transaction of $825,000.00. Following the completion of the sale, the chief executive officer now owns 270,574 shares in the company, valued at approximately $8,928,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernardo Hees acquired 430,169 shares of the business’s stock in a transaction dated Sunday, February 9th. The shares were bought at an average price of $34.87 per share, with a total value of $14,999,993.03. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its holdings in shares of Avis Budget Group by 34.8% in the fourth quarter. Pzena Investment Management LLC now owns 4,428,321 shares of the business services provider’s stock valued at $142,769,000 after purchasing an additional 1,143,553 shares in the last quarter. Lyrical Asset Management LP lifted its holdings in shares of Avis Budget Group by 0.6% in the fourth quarter. Lyrical Asset Management LP now owns 3,237,239 shares of the business services provider’s stock valued at $104,369,000 after purchasing an additional 20,017 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of Avis Budget Group by 32.7% in the third quarter. Maple Rock Capital Partners Inc. now owns 1,028,700 shares of the business services provider’s stock valued at $29,071,000 after purchasing an additional 253,700 shares in the last quarter. Jefferies Group LLC purchased a new stake in shares of Avis Budget Group in the fourth quarter valued at $32,375,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Avis Budget Group by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 873,267 shares of the business services provider’s stock valued at $28,154,000 after purchasing an additional 41,084 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.
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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
Further Reading: What is the Dividend Aristocrat Index?
Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.