Avis Budget Group Inc. (NASDAQ:CAR) – Equities researchers at Northcoast Research lowered their FY2018 EPS estimates for Avis Budget Group in a report issued on Wednesday, November 7th. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $3.45 for the year, down from their prior estimate of $3.55. Northcoast Research has a “Buy” rating and a $46.00 price target on the stock. Northcoast Research also issued estimates for Avis Budget Group’s Q4 2018 earnings at $0.32 EPS and FY2019 earnings at $3.95 EPS.
CAR has been the topic of a number of other research reports. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. ValuEngine downgraded shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Zacks Investment Research downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. 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, Barclays lowered their price objective on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.00.
CAR stock opened at $32.23 on Friday. Avis Budget Group has a 52-week low of $26.97 and a 52-week high of $50.88. The company has a current ratio of 1.14, a quick ratio of 1.20 and a debt-to-equity ratio of 27.75. The company has a market cap of $2.53 billion, a PE ratio of 11.31 and a beta of 1.86.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, November 5th. The business services provider reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.21). Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the firm earned $3.10 EPS. The firm’s revenue was up .9% compared to the same quarter last year.
In related news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,339 shares of the company’s stock, valued at $80,999.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its position in Avis Budget Group by 3.1% in the second quarter. Arizona State Retirement System now owns 49,646 shares of the business services provider’s stock worth $1,613,000 after acquiring an additional 1,477 shares in the last quarter. Systematic Financial Management LP grew its position in Avis Budget Group by 5.6% in the second quarter. Systematic Financial Management LP now owns 31,510 shares of the business services provider’s stock worth $1,024,000 after acquiring an additional 1,675 shares in the last quarter. Sei Investments Co. grew its position in Avis Budget Group by 69.9% in the second 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 in the last quarter. Mutual of America Capital Management LLC grew its position in Avis Budget Group by 5.1% in the second quarter. Mutual of America Capital Management LLC now owns 61,234 shares of the business services provider’s stock worth $1,990,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its position in Avis Budget Group by 38.1% in the second quarter. Eqis Capital Management Inc. now owns 13,645 shares of the business services provider’s stock worth $443,000 after acquiring an additional 3,765 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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