Avis Budget Group Inc. (CAR) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Avis Budget Group Inc. (NASDAQ:CAR) have received an average recommendation of “Buy” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $38.00.

Several equities analysts recently weighed in on CAR shares. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub cut Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a research report on Friday, November 10th. ValuEngine cut Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Deutsche Bank cut their price objective on Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th.

In other Avis Budget Group news, CMO W Scott Deaver sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $39.05, for a total value of $1,562,000.00. Following the completion of the transaction, the chief marketing officer now owns 125,674 shares of the company’s stock, valued at approximately $4,907,569.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David T. Calabria sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $41.71, for a total value of $52,137.50. Following the completion of the transaction, the senior vice president now directly owns 4,412 shares of the company’s stock, valued at approximately $184,024.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 463,750 shares of company stock valued at $18,702,638. Insiders own 2.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CAR. FMR LLC grew its stake in shares of Avis Budget Group by 815.5% in the 2nd 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 during the period. Pzena Investment Management LLC bought a new stake in shares of Avis Budget Group in the 3rd quarter valued at approximately $37,704,000. 1060 Capital LLC bought a new stake in shares of Avis Budget Group in the 3rd quarter valued at approximately $25,874,000. State Street Corp grew its stake in shares of Avis Budget Group by 21.6% in the 2nd quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock valued at $80,487,000 after purchasing an additional 524,807 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Avis Budget Group by 23.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,478,385 shares of the business services provider’s stock valued at $40,313,000 after purchasing an additional 279,231 shares during the period.

Avis Budget Group (NASDAQ:CAR) opened at $40.77 on Tuesday. Avis Budget Group has a 12-month low of $20.71 and a 12-month high of $49.41. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $3,320.00, a PE ratio of 30.20 and a beta of 2.45.

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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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