Investment Analysts’ Recent Ratings Updates for Avis Budget Group (CAR)
Avis Budget Group (NASDAQ: CAR) has recently received a number of price target changes and ratings updates:
- 9/7/2017 – Avis Budget Group had its “hold” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $37.00 price target on the stock.
- 9/1/2017 – Avis Budget Group was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
- 8/25/2017 – Avis Budget Group had its price target lowered by analysts at Morgan Stanley from $19.00 to $18.00. They now have an “underweight” rating on the stock.
- 8/23/2017 – Avis Budget Group was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 8/14/2017 – Avis Budget Group was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
- 8/7/2017 – Avis Budget Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 8/4/2017 – Avis Budget Group is now covered by analysts at J P Morgan Chase & Co. They set an “overweight” rating and a $39.00 price target on the stock.
- 8/2/2017 – Avis Budget Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Intense competitive pressures reduce the profitability of Avis Budget and contract its market share. High fleet costs and continued pricing pressure further continue to hinder Avis Budget earnings. Volatility in market demand, foreign currency risks and dependence on third-parties remain additional headwinds, leading to a tempered guidance. Revenues for 2017 are expected to be in the range of $8.8-$8.95 billion, as adverse movements in currency exchange rates are expected to hurt revenue growth by approximately $75 million. High dependence on third-party distribution channels remains another challenge. The company also underperformed the industry year to date. However, Avis Budget is aggressively increasing its presence in existing markets, as exemplified by the French Cars acquisition. At the same time, the company is focusing on expanding its Budget brand, taking its multi-brand strategy to the next level.”
- 7/19/2017 – Avis Budget Group was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
Avis Budget Group, Inc. (NASDAQ CAR) opened at 36.72 on Friday. The stock’s 50 day moving average price is $33.26 and its 200 day moving average price is $29.28. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 43.25 and a beta of 2.44. Avis Budget Group, Inc. has a 52-week low of $20.71 and a 52-week high of $41.53.
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 Thomson Reuters’ consensus estimate of $0.62 by $0.32. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts forecast that Avis Budget Group, Inc. will post $2.51 EPS for the current year.
In related news, EVP Edward P. Linnen sold 3,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $36.09, for a total transaction of $108,270.00. Following the completion of the sale, the executive vice president now directly owns 17,919 shares of the company’s stock, valued at approximately $646,696.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John D. Jr. Hardy sold 908 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $32.78, for a total transaction of $29,764.24. Following the sale, the director now directly owns 908 shares of the company’s stock, valued at $29,764.24. The disclosure for this sale can be found here. Insiders have sold a total of 32,908 shares of company stock valued at $1,184,064 over the last three months. Corporate insiders own 2.80% of the company’s stock.
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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