Analysts Set $40.00 Price Target for Avis Budget Group, Inc. (CAR)
Shares of Avis Budget Group, Inc. (NASDAQ:CAR) have been assigned an average broker rating score of 2.00 (Buy) from the six analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation, one has assigned a hold recommendation and four have given a strong buy recommendation to the company.
Analysts have set a twelve-month consensus price target of $40.00 for the company and are forecasting that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also given Avis Budget Group an industry rank of 163 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently weighed in on CAR shares. TheStreet raised shares of Avis Budget Group from a “c” rating to a “b-” rating in a report on Friday. Deutsche Bank AG cut their price target on shares of Avis Budget Group from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. ValuEngine downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Desjardins reissued a “hold” rating on shares of Avis Budget Group in a report on Friday, August 11th. Finally, BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Avis Budget Group by 18.0% during the second quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock worth $242,574,000 after purchasing an additional 1,355,238 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Avis Budget Group by 7.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,131,332 shares of the business services provider’s stock worth $167,201,000 after buying an additional 401,401 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Avis Budget Group by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 4,534,212 shares of the business services provider’s stock worth $172,573,000 after buying an additional 83,974 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Avis Budget Group by 18.6% in 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 buying an additional 547,233 shares in the last quarter. Finally, State Street Corp boosted its stake in Avis Budget Group by 21.6% in the second quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock worth $80,487,000 after buying an additional 524,807 shares in the last quarter.
Avis Budget Group (CAR) traded down $0.14 on Tuesday, reaching $33.32. 1,938,500 shares of the company’s stock were exchanged, compared to its average volume of 2,862,655. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24. The stock has a market cap of $2,724.36, a P/E ratio of 12.82 and a beta of 2.57. Avis Budget Group has a 1 year low of $20.71 and a 1 year high of $42.40.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.99 by $0.11. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.47 EPS. sell-side analysts forecast that Avis Budget Group will post 2.6 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.107 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Thursday, September 28th.
About Avis Budget Group
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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