Avis Budget Group, Inc. (CAR) Given Average Rating of “Buy” by Analysts
Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have received an average rating of “Buy” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $37.50.
A number of equities research analysts have commented on CAR shares. Deutsche Bank AG reiterated a “buy” rating and issued a $45.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 14th. BidaskClub upgraded Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. MKM Partners restated a “buy” rating and set a $40.00 target price on shares of Avis Budget Group in a research report on Wednesday, June 28th. Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th.
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In other Avis Budget Group news, EVP Edward P. Linnen sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.09, for a total value of $108,270.00. Following the transaction, the executive vice president now owns 17,919 shares in the company, valued at $646,696.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John D. Jr. Hardy sold 908 shares of the 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 completion of the transaction, the director now owns 908 shares in the company, valued at approximately $29,764.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,708 shares of company stock worth $6,878,212. Corporate insiders own 2.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. Crow Point Partners LLC bought a new position in Avis Budget Group in the third quarter worth approximately $107,000. FNY Managed Accounts LLC bought a new position in Avis Budget Group in the first quarter worth approximately $102,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Avis Budget Group in the second quarter worth approximately $191,000. Cambridge Investment Research Advisors Inc. bought a new position in Avis Budget Group in the second quarter worth approximately $225,000. Finally, LS Investment Advisors LLC boosted its holdings in Avis Budget Group by 13.0% in the second quarter. LS Investment Advisors LLC now owns 8,881 shares of the business services provider’s stock worth $242,000 after acquiring an additional 1,024 shares in the last quarter.
Avis Budget Group (NASDAQ:CAR) opened at 40.24 on Wednesday. Avis Budget Group has a one year low of $20.71 and a one year high of $41.53. The firm’s 50-day moving average price is $36.76 and its 200-day moving average price is $30.15. The company has a market cap of $3.33 billion, a PE ratio of 47.40 and a beta of 2.48.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Avis Budget Group will post $2.59 earnings per share for the current fiscal year.
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.
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