Avis Budget Group Inc. (CAR) Given Average Rating of “Buy” by Analysts

Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $38.00.

Several analysts recently issued reports on CAR shares. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. MKM Partners increased their price target 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. TheStreet upgraded shares of Avis Budget Group from a “c” rating to a “b-” rating in a research report on Friday, November 10th. Zacks Investment Research lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th.

In other news, CEO Shon Larry D. De sold 25,000 shares of Avis Budget Group stock in a transaction on 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 transaction, the chief executive officer now owns 222,365 shares in the company, valued at $9,339,330. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David T. Calabria sold 1,250 shares of Avis Budget Group stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.71, for a total transaction of $52,137.50. Following the transaction, the senior vice president now owns 4,412 shares in the company, valued at approximately $184,024.52. The disclosure for this sale can be found here. Insiders sold 489,581 shares of company stock worth $19,782,022 in the last 90 days. Company insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Avis Budget Group by 815.5% in the second quarter. FMR LLC now owns 1,779,701 shares of the business services provider’s stock valued at $48,532,000 after purchasing an additional 1,585,301 shares in the last quarter. BlackRock Inc. increased its stake in Avis Budget Group by 18.0% in the second quarter. BlackRock Inc. now owns 8,895,289 shares of the business services provider’s stock valued at $242,574,000 after purchasing an additional 1,355,238 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Avis Budget Group in the third quarter valued at $37,704,000. 1060 Capital LLC bought a new stake in Avis Budget Group in the third quarter valued at $25,874,000. Finally, Capital World Investors bought a new stake in Avis Budget Group in the second quarter valued at $17,780,000.

Avis Budget Group (NASDAQ CAR) opened at $43.35 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The company has a market cap of $3,530.00, a P/E ratio of 32.11 and a beta of 2.53. Avis Budget Group has a fifty-two week low of $20.71 and a fifty-two week high of $49.41.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.99 by $0.11. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. research analysts predict that Avis Budget Group will post 2.65 EPS for the current fiscal year.

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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.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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