BidaskClub Upgrades Avis Budget Group (NASDAQ:CAR) to “Sell”

BidaskClub upgraded shares of Avis Budget Group (NASDAQ:CAR) from a strong sell rating to a sell rating in a research report released on Tuesday morning, BidAskClub reports.

Several other research analysts also recently commented on CAR. ValuEngine downgraded Avis Budget Group from a sell rating to a strong sell rating in a report on Tuesday, April 9th. Zacks Investment Research upgraded Avis Budget Group from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Thursday, February 28th. Deutsche Bank reiterated a buy rating and issued a $48.00 price objective on shares of Avis Budget Group in a report on Monday, February 25th. Finally, Goldman Sachs Group upgraded Avis Budget Group from a sell rating to a buy rating and lifted their price objective for the stock from $30.00 to $35.00 in a report on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $39.67.

CAR opened at $30.61 on Tuesday. The stock has a market capitalization of $2.32 billion, a PE ratio of 8.39 and a beta of 1.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 51.70. Avis Budget Group has a 12 month low of $21.63 and a 12 month high of $43.38.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.78) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.02) by $0.24. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.95 billion. Avis Budget Group had a return on equity of 71.86% and a net margin of 1.77%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.74) earnings per share. On average, analysts predict that Avis Budget Group will post 3.99 earnings per share for the current year.

In related news, insider Mark J. Servodidio sold 38,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $37.07, for a total value of $1,408,660.00. Following the sale, the insider now directly owns 60,711 shares of the company’s stock, valued at $2,250,556.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank boosted its position in Avis Budget Group by 1.9% during the 1st quarter. First Hawaiian Bank now owns 16,180 shares of the business services provider’s stock valued at $564,000 after acquiring an additional 302 shares in the last quarter. AQR Capital Management LLC boosted its position in Avis Budget Group by 5.6% during the 1st quarter. AQR Capital Management LLC now owns 9,645 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 515 shares in the last quarter. Texas Permanent School Fund boosted its position in Avis Budget Group by 1.6% during the 4th quarter. Texas Permanent School Fund now owns 42,516 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 660 shares in the last quarter. Swiss National Bank boosted its position in Avis Budget Group by 0.7% during the 1st quarter. Swiss National Bank now owns 119,800 shares of the business services provider’s stock valued at $4,176,000 after acquiring an additional 800 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in Avis Budget Group by 3.9% during the 4th quarter. Alps Advisors Inc. now owns 24,099 shares of the business services provider’s stock valued at $542,000 after acquiring an additional 900 shares in the last quarter.

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 5,500 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.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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