Avis Budget Group Inc. (CAR) Receives Average Recommendation of “Hold” from Analysts

Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.80.

Several equities research analysts have weighed in on CAR shares. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Goldman Sachs Group set a $30.00 price objective on shares of Avis Budget Group and gave the company a “sell” rating in a research report on Tuesday, October 16th. Deutsche Bank set a $45.00 price objective on shares of Avis Budget Group and gave the company a “buy” rating in a research report on Thursday, October 25th. Finally, Zacks Investment Research cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th.

In other news, SVP David T. Calabria sold 1,700 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $29.29, for a total value of $49,793.00. Following the transaction, the senior vice president now owns 7,661 shares of the company’s stock, valued at approximately $224,390.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CAR. Tower Research Capital LLC TRC boosted its stake in Avis Budget Group by 2,182.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,390 shares of the business services provider’s stock worth $205,000 after acquiring an additional 6,110 shares during the last quarter. Cerebellum GP LLC boosted its stake in Avis Budget Group by 7,427.9% during the 4th quarter. Cerebellum GP LLC now owns 9,711 shares of the business services provider’s stock worth $218,000 after acquiring an additional 9,582 shares during the last quarter. Sei Investments Co. boosted its stake in Avis Budget Group by 69.9% during the 2nd quarter. Sei Investments Co. now owns 7,068 shares of the business services provider’s stock worth $230,000 after acquiring an additional 2,907 shares during the last quarter. NumerixS Investment Technologies Inc boosted its stake in Avis Budget Group by 164.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,300 shares of the business services provider’s stock worth $331,000 after acquiring an additional 6,400 shares during the last quarter. Finally, First Quadrant L P CA bought a new position in Avis Budget Group during the 3rd quarter worth approximately $346,000.

Shares of Avis Budget Group stock traded up $0.44 during mid-day trading on Friday, reaching $26.01. 1,488,300 shares of the stock were exchanged, compared to its average volume of 1,611,988. The stock has a market capitalization of $1.94 billion, a P/E ratio of 9.13 and a beta of 1.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 27.75. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $50.88.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Monday, November 5th. The business services provider reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.21). The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a return on equity of 60.18% and a net margin of 4.09%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $3.10 EPS. On average, equities analysts anticipate that Avis Budget Group will post 3.43 earnings per share for the current year.

About Avis Budget Group

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.

Recommended Story: What is a Stop Order?

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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.

Leave a Reply