Avis Budget Group, Inc. (NASDAQ:CAR) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a research report on Friday, August 4th. They issued an “overweight” rating and a $39.00 price objective for the company. B. Riley assumed coverage on shares of Avis Budget Group in a research report on Friday, September 22nd. They issued a “buy” rating and a $36.00 price objective for the company. Zacks Investment Research upgraded shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, MKM Partners boosted their price objective on shares of Avis Budget Group from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.80.

Shares of Avis Budget Group (NASDAQ CAR) traded up $0.01 on Friday, hitting $40.97. The stock had a trading volume of 1,918,587 shares, compared to its average volume of 1,642,195. The firm has a market cap of $3,386.25, a P/E ratio of 20.69 and a beta of 2.57. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 100.73. Avis Budget Group has a fifty-two week low of $20.71 and a fifty-two week high of $42.40.

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In other news, SVP David T. Calabria sold 1,300 shares of the company’s 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 sale, the senior vice president now directly owns 5,662 shares of the company’s stock, valued at approximately $203,039.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Shon Larry D. De sold 25,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $42.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 222,365 shares in the company, valued at $9,339,330. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 460,708 shares of company stock valued at $18,183,212. Company insiders own 2.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in shares of Avis Budget Group during the first quarter worth approximately $592,000. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Avis Budget Group by 107.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 21,107 shares of the business services provider’s stock worth $576,000 after purchasing an additional 10,926 shares during the period. Credit Suisse AG increased its holdings in shares of Avis Budget Group by 105.4% during the first quarter. Credit Suisse AG now owns 471,124 shares of the business services provider’s stock worth $13,936,000 after purchasing an additional 241,739 shares during the period. GRT Capital Partners L.L.C. increased its holdings in shares of Avis Budget Group by 10.7% during the second quarter. GRT Capital Partners L.L.C. now owns 34,650 shares of the business services provider’s stock worth $945,000 after purchasing an additional 3,350 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of Avis Budget Group by 18.6% during the second quarter. Neuberger Berman Group LLC now owns 3,482,454 shares of the business services provider’s stock worth $94,967,000 after purchasing an additional 547,233 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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