Avis Budget Group (NASDAQ:CAR) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Monday, February 25th.
Several other analysts have also commented on CAR. Deutsche Bank set a $45.00 price objective on shares of Avis Budget Group and gave the stock a “buy” rating in a report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Goldman Sachs Group upgraded shares of Avis Budget Group from a “sell” rating to a “buy” rating and lifted their target price for the company from $30.00 to $35.00 in a report on Monday, February 11th. Finally, ValuEngine upgraded shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.50.
Avis Budget Group stock traded down $2.24 during trading on Monday, hitting $33.23. The stock had a trading volume of 1,400,469 shares, compared to its average volume of 1,983,085. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 9.10 and a beta of 1.95. Avis Budget Group has a 1 year low of $21.63 and a 1 year high of $50.32. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 33.24.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.22. Avis Budget Group had a return on equity of 66.29% and a net margin of 1.81%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Avis Budget Group will post 3.88 earnings per share for the current fiscal year.
In other news, EVP Michael K. Tucker sold 4,796 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $35.50, for a total value of $170,258.00. Following the completion of the sale, the executive vice president now owns 66,906 shares of the company’s stock, valued at approximately $2,375,163. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Srs Investment Management, Llc bought 4,189,300 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were purchased at an average cost of $35.33 per share, with a total value of $148,007,969.00. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Loeb Partners Corp acquired a new stake in shares of Avis Budget Group in the fourth quarter worth $32,000. Pearl River Capital LLC acquired a new stake in Avis Budget Group during the fourth quarter valued at $34,000. Oppenheimer Asset Management Inc. acquired a new stake in Avis Budget Group during the fourth quarter valued at $59,000. Tower Research Capital LLC TRC grew its position in Avis Budget Group by 2,182.1% during the third quarter. Tower Research Capital LLC TRC now owns 6,390 shares of the business services provider’s stock valued at $205,000 after buying an additional 6,110 shares during the period. Finally, Cerebellum GP LLC grew its position in Avis Budget Group by 7,427.9% during the fourth quarter. Cerebellum GP LLC now owns 9,711 shares of the business services provider’s stock valued at $218,000 after buying an additional 9,582 shares during the period. 99.35% of the stock is owned by institutional investors.
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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