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

Several other analysts have also recently weighed in on CAR. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. B. Riley began coverage on shares of Avis Budget Group in a research note on Friday, September 22nd. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research raised shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Barclays upped their price objective on shares of Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 1st. Finally, Deutsche Bank reiterated a “buy” rating and set a $49.00 target price (up from $44.00) on shares of Avis Budget Group in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.70.

Shares of Avis Budget Group (CAR) opened at $43.92 on Thursday. The firm has a market cap of $3,576.05, a PE ratio of 16.83 and a beta of 2.53. Avis Budget Group has a 52 week low of $20.71 and a 52 week high of $44.37. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.99 by $0.11. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. equities analysts expect that Avis Budget Group will post 2.65 EPS for the current year.

In related news, CMO W Scott Deaver sold 40,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $39.05, for a total value of $1,562,000.00. Following the transaction, the chief marketing officer now directly owns 125,674 shares in the company, valued at $4,907,569.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Jr. Hardy sold 831 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.36, for a total transaction of $29,384.16. Following the completion of the transaction, the director now owns 831 shares in the company, valued at $29,384.16. The disclosure for this sale can be found here. Insiders have sold 739,581 shares of company stock worth $30,037,022 over the last quarter. 2.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in Avis Budget Group by 4.0% in the second quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock valued at $253,000 after buying an additional 356 shares during the period. Wittenberg Investment Management Inc. raised its holdings in Avis Budget Group by 0.7% in the second quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock worth $1,890,000 after purchasing an additional 500 shares during the period. Thrivent Financial For Lutherans raised its holdings in Avis Budget Group by 3.6% in the second quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after purchasing an additional 580 shares during the period. New York State Common Retirement Fund raised its holdings in Avis Budget Group by 1.7% in the third quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock worth $3,441,000 after purchasing an additional 1,494 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in Avis Budget Group by 2.1% in the third quarter. First Republic Investment Management Inc. now owns 84,853 shares of the business services provider’s stock worth $3,229,000 after purchasing an additional 1,777 shares during the period.

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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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