Avis Budget Group (NASDAQ:CAR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.
Several other analysts have also recently weighed in on the stock. Morgan Stanley began coverage on shares of Avis Budget Group in a report on Tuesday, June 26th. They issued an “underweight” rating and a $30.00 price target on the stock. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, July 30th. Barclays cut their price target on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 22nd. ValuEngine cut shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Deutsche Bank lifted their price target on shares of Avis Budget Group from $51.00 to $53.00 and gave the company a “buy” rating in a report on Friday, May 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Avis Budget Group currently has an average rating of “Hold” and an average target price of $42.75.
Shares of NASDAQ CAR opened at $32.18 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 41.18. Avis Budget Group has a 52 week low of $30.67 and a 52 week high of $50.88. The firm has a market capitalization of $2.63 billion, a P/E ratio of 11.29 and a beta of 2.06.
Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Tuesday, August 7th. The business services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. analysts anticipate that Avis Budget Group will post 3.48 earnings per share for the current fiscal year.
In other news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $34.63, for a total transaction of $450,190.00. Following the sale, the director now owns 2,339 shares in the company, valued at approximately $80,999.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lynn Krominga sold 10,000 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the sale, the director now owns 305 shares in the company, valued at approximately $12,200. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of Avis Budget Group by 12,509.1% during the 1st quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock valued at $195,000 after buying an additional 4,128 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Avis Budget Group during the 2nd quarter valued at $142,000. Chicago Equity Partners LLC bought a new stake in shares of Avis Budget Group during the 1st quarter valued at $219,000. Stifel Financial Corp bought a new stake in shares of Avis Budget Group during the 1st quarter valued at $240,000. Finally, Delpha Capital Management LLC boosted its holdings in shares of Avis Budget Group by 28.8% during the 1st quarter. Delpha Capital Management LLC now owns 5,315 shares of the business services provider’s stock valued at $249,000 after buying an additional 1,189 shares in the last quarter.
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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