Research Analysts’ Recent Ratings Updates for Avis Budget Group (CAR)
Several analysts have recently updated their ratings and price targets for Avis Budget Group (NASDAQ: CAR):
- 9/15/2017 – Avis Budget Group had its price target raised by analysts at Morgan Stanley from $18.00 to $21.00. They now have an “underweight” rating on the stock.
- 9/14/2017 – Avis Budget Group had its “hold” rating reaffirmed by analysts at Credit Suisse Group.
- 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.”
Avis Budget Group, Inc. (NASDAQ CAR) traded up 0.42% during mid-day trading on Thursday, reaching $38.08. The company had a trading volume of 2,259,122 shares. The stock’s 50-day moving average price is $34.23 and its 200 day moving average price is $29.41. The firm has a market capitalization of $3.15 billion, a PE ratio of 44.85 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 released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). The company had revenue of $2.24 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that Avis Budget Group, Inc. will post $2.57 EPS for the current year.
In related news, insider Ronald L. Nelson sold 150,000 shares of Avis Budget Group stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $37.30, for a total value of $5,595,000.00. Following the completion of the transaction, the insider now owns 510,714 shares in the company, valued at approximately $19,049,632.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David T. Calabria sold 1,300 shares of Avis Budget Group stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total value of $46,618.00. Following the completion of the transaction, the senior vice president now owns 5,662 shares of the company’s stock, valued at approximately $203,039.32. The disclosure for this sale can be found here. Insiders have sold a total of 185,708 shares of company stock valued at $6,878,212 in the last quarter. Company 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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