Avis Budget Group (CAR) Upgraded to Buy by Goldman Sachs Group

Avis Budget Group (NASDAQ:CAR) was upgraded by equities research analysts at Goldman Sachs Group from a “sell” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

A number of other analysts also recently commented on CAR. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the stock a “buy” rating in a research report on Thursday, October 25th. Zacks Investment Research downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Finally, BidaskClub downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $41.00.

CAR opened at $25.68 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 27.75. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 9.01 and a beta of 1.94. Avis Budget Group has a one year low of $21.63 and a one year high of $50.88.

In other news, SVP David T. Calabria sold 1,700 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total value of $49,793.00. Following the completion of the transaction, the senior vice president now directly owns 7,661 shares of the company’s stock, valued at $224,390.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH acquired a new position in Avis Budget Group in the third quarter valued at $26,760,000. Pzena Investment Management LLC increased its stake in Avis Budget Group by 31.1% in the third quarter. Pzena Investment Management LLC now owns 2,578,026 shares of the business services provider’s stock valued at $82,858,000 after purchasing an additional 610,949 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Avis Budget Group by 1,992.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 589,650 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 561,467 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Avis Budget Group by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 4,436,114 shares of the business services provider’s stock valued at $144,174,000 after purchasing an additional 396,831 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Avis Budget Group in the second quarter valued at $8,767,000.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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