Avis Budget Group Reaches New 1-Year High at $61.29 (CAR)
Avis Budget Group (NYSE:CAR) shares reached a new 52-week high during trading on Tuesday , Analyst Ratings Network reports. The stock traded as high as $61.29 and last traded at $60.54, with a volume of 882,826 shares. The stock had previously closed at $59.69.
A number of analysts have recently weighed in on CAR shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Tuesday, June 10th. They now have a $58.00 price target on the stock, up previously from $53.00. Separately, analysts at Zacks upgraded shares of Avis Budget Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $61.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Avis Budget Group from $42.00 to $46.00 in a research note on Monday, May 12th. They now have an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Avis Budget Group has a consensus rating of “Hold” and a consensus target price of $51.00.
The stock has a 50-day moving average of $57.26 and a 200-day moving average of $47.95. The company has a market cap of $6.378 billion and a P/E ratio of 100.49.
Avis Budget Group (NYSE:CAR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.08. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $0.08 earnings per share. Avis Budget Group’s revenue was up 10.1% compared to the same quarter last year. Analysts expect that Avis Budget Group will post $2.84 EPS for the current fiscal year.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.