Avis Budget Group, Inc. (NASDAQ:CAR)‘s stock had its “hold” rating reissued by Goldman Sachs Group, Inc. (The) in a research report issued on Thursday. They presently have a $37.00 price objective on the business services provider’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential upside of 2.81% from the stock’s current price.

Several other equities analysts have also recently issued reports on CAR. Credit Suisse Group decreased their price objective on Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. ValuEngine cut Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Deutsche Bank AG reiterated a “buy” rating and issued a $45.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 14th. BidaskClub upgraded Avis Budget Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, MKM Partners reiterated a “buy” rating and issued a $40.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $36.22.

Shares of Avis Budget Group (NASDAQ CAR) traded up 2.14% during mid-day trading on Thursday, hitting $36.76. 1,614,421 shares of the stock were exchanged. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $41.53. The company has a 50-day moving average price of $33.14 and a 200-day moving average price of $29.23. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 43.30 and a beta of 2.44.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.32. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Equities analysts expect that Avis Budget Group will post $2.51 earnings per share for the current year.

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In other Avis Budget Group news, EVP Edward P. Linnen sold 3,000 shares of Avis Budget Group stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.09, for a total transaction of $108,270.00. Following the transaction, the executive vice president now owns 17,919 shares of the company’s stock, valued at $646,696.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John D. Jr. Hardy sold 908 shares of Avis Budget Group stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $32.78, for a total value of $29,764.24. Following the transaction, the director now directly owns 908 shares in the company, valued at approximately $29,764.24. The disclosure for this sale can be found here. Insiders have sold a total of 32,908 shares of company stock worth $1,184,064 in the last three months. Corporate insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAR. Capstone Asset Management Co. increased its position in Avis Budget Group by 0.9% during the first quarter. Capstone Asset Management Co. now owns 11,155 shares of the business services provider’s stock worth $330,000 after buying an additional 100 shares during the period. Janney Montgomery Scott LLC increased its position in Avis Budget Group by 24.9% during the first quarter. Janney Montgomery Scott LLC now owns 11,866 shares of the business services provider’s stock worth $351,000 after buying an additional 2,366 shares during the period. Russell Investments Group Ltd. increased its position in Avis Budget Group by 435.5% during the first quarter. Russell Investments Group Ltd. now owns 72,420 shares of the business services provider’s stock worth $2,142,000 after buying an additional 58,896 shares during the period. Oregon Public Employees Retirement Fund increased its position in Avis Budget Group by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 33,000 shares of the business services provider’s stock worth $976,000 after buying an additional 400 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Avis Budget Group by 1.5% during the first quarter. Great West Life Assurance Co. Can now owns 71,918 shares of the business services provider’s stock worth $2,127,000 after buying an additional 1,041 shares during the period.

Avis Budget Group Company Profile

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.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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