Avis Budget Group, Inc. (CAR) Stock Rating Lowered by ValuEngine
Avis Budget Group, Inc. (NASDAQ:CAR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.
CAR has been the subject of several other research reports. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. J P Morgan Chase & Co assumed coverage on Avis Budget Group in a research report on Friday. They issued an “overweight” rating and a $39.00 price target for the company. Morgan Stanley dropped their price target on Avis Budget Group from $23.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday, May 8th. Finally, Credit Suisse Group dropped their price target on Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.40.
Avis Budget Group (CAR) traded up 3.66% during trading on Monday, reaching $33.39. 6,054,091 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $28.18 and a 200-day moving average of $29.89. The stock has a market capitalization of $2.81 billion, a PE ratio of 28.25 and a beta of 2.49. Avis Budget Group has a 52 week low of $20.71 and a 52 week high of $41.53.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.32. Avis Budget Group had a return on equity of 74.55% and a net margin of 1.24%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business earned $0.63 earnings per share. Avis Budget Group’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Avis Budget Group will post $2.84 EPS for the current year.
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In related news, Director John D. Jr. Hardy sold 992 shares of Avis Budget Group stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.20, for a total transaction of $26,982.40. Following the completion of the sale, the director now owns 992 shares in the company, valued at approximately $26,982.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. FNY Managed Accounts LLC acquired a new stake in shares of Avis Budget Group during the first quarter worth about $102,000. James Investment Research Inc. acquired a new stake in shares of Avis Budget Group during the first quarter worth about $113,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Avis Budget Group during the second quarter worth about $191,000. World Asset Management Inc raised its stake in shares of Avis Budget Group by 8.9% in the first quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock worth $221,000 after buying an additional 610 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Avis Budget Group by 27.6% in the first quarter. LS Investment Advisors LLC now owns 7,857 shares of the business services provider’s stock worth $232,000 after buying an additional 1,699 shares during the last quarter.
About Avis Budget Group
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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