Avis Budget Group (CAR) – Research Analysts’ Weekly Ratings Changes

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A number of firms have modified their ratings and price targets on shares of Avis Budget Group (NASDAQ: CAR) recently:

  • 8/30/2018 – Avis Budget Group was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 8/29/2018 – Avis Budget Group was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/24/2018 – Avis Budget Group was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 8/22/2018 – Avis Budget Group had its price target lowered by analysts at Barclays PLC from $41.00 to $38.00. They now have an “equal weight” rating on the stock.
  • 8/16/2018 – Avis Budget Group was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/1/2018 – Avis Budget Group was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “We appreciate Avis Budget’s focus on expanding its global presence by increasing the number of company-operated locations in fast-growing markets. We believe the company's fundamental drivers such as sustained productivity growth, implementation of pricing initiatives and potential revenue-generating synergies from various acquisitions are likely to enhance its future prospects. In the past year, the stock outperformed the industry it belongs to. However, Avis Budget continues to face hurdles like high fleet costs and intense competition from rival players in the vehicle rental industry. Any disruption or termination of relationships with third-party distribution channels can have an adverse impact on Avis Budget’s domestic car rental reservations.”
  • 7/30/2018 – Avis Budget Group was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating. They now have a $46.00 price target on the stock.
  • 7/25/2018 – Avis Budget Group was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/13/2018 – Avis Budget Group was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Avis Budget Group stock opened at $31.33 on Friday. Avis Budget Group Inc. has a 12-month low of $29.94 and a 12-month high of $50.88. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 10.99 and a beta of 1.91. The company has a debt-to-equity ratio of 41.18, a quick ratio of 1.20 and a current ratio of 1.20.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 analysts’ expectations of $2.39 billion. During the same period last year, the company earned $0.30 EPS. equities research analysts expect that Avis Budget Group Inc. will post 3.48 EPS for the current fiscal year.

In other news, Director Lynn Krominga sold 10,000 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the director now directly owns 305 shares in the company, valued at approximately $12,200. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leonard S. Coleman, Jr. sold 13,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $34.63, for a total transaction of $450,190.00. Following the transaction, the director now owns 2,339 shares in the company, valued at $80,999.57. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Avis Budget Group by 4.1% in the second quarter. BlackRock Inc. now owns 8,416,207 shares of the business services provider’s stock valued at $273,525,000 after buying an additional 330,997 shares during the period. Bank of New York Mellon Corp raised its holdings in Avis Budget Group by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 4,436,114 shares of the business services provider’s stock valued at $144,174,000 after buying an additional 396,831 shares during the period. Pzena Investment Management LLC raised its holdings in Avis Budget Group by 8.6% in the second quarter. Pzena Investment Management LLC now owns 1,967,077 shares of the business services provider’s stock valued at $63,930,000 after buying an additional 156,577 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Avis Budget Group by 6.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,692,509 shares of the business services provider’s stock valued at $55,007,000 after buying an additional 102,778 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Avis Budget Group by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,604,504 shares of the business services provider’s stock valued at $52,146,000 after buying an additional 14,568 shares during the period.

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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