Avis Budget Group Inc. (NASDAQ:CAR) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.75.
Several research firms have recently commented on CAR. Deutsche Bank reissued a “hold” rating and issued a $31.00 price target on shares of Avis Budget Group in a research report on Wednesday, November 20th. TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a research report on Friday, December 6th. Jefferies Financial Group began coverage on Avis Budget Group in a research report on Thursday, November 21st. They issued a “buy” rating for the company. BidaskClub raised Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, ValuEngine raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd.
Shares of CAR traded down $0.89 during trading hours on Tuesday, hitting $34.99. The company had a trading volume of 624,760 shares, compared to its average volume of 940,762. The company has a market capitalization of $2.65 billion, a PE ratio of 15.41 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 34.23. Avis Budget Group has a one year low of $23.86 and a one year high of $37.27. The company’s fifty day moving average price is $32.50 and its two-hundred day moving average price is $30.66.
In related news, CEO Shon Larry D. De sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $33.00, for a total transaction of $825,000.00. Following the transaction, the chief executive officer now directly owns 270,574 shares of the company’s stock, valued at approximately $8,928,942. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Convergence Investment Partners LLC increased its position in Avis Budget Group by 9.7% during the 3rd quarter. Convergence Investment Partners LLC now owns 4,129 shares of the business services provider’s stock valued at $117,000 after buying an additional 364 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Avis Budget Group by 25.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,132 shares of the business services provider’s stock valued at $117,000 after buying an additional 838 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Avis Budget Group in the second quarter valued at about $151,000. Dupont Capital Management Corp increased its holdings in shares of Avis Budget Group by 10.2% in the third quarter. Dupont Capital Management Corp now owns 5,913 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 549 shares during the period. Finally, World Asset Management Inc increased its holdings in shares of Avis Budget Group by 8.3% in the third quarter. World Asset Management Inc now owns 8,441 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 650 shares during the period. 99.87% of the stock is currently 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 5,500 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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