ValuEngine cut shares of Avis Budget Group (NASDAQ:CAR) from a sell rating to a strong sell rating in a report published on Tuesday morning, ValuEngine reports.

CAR has been the topic of a number of other reports. Zacks Investment Research raised Avis Budget Group from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Thursday, February 28th. Deutsche Bank reissued a buy rating and issued a $48.00 price objective on shares of Avis Budget Group in a research report on Monday, February 25th. BidaskClub raised Avis Budget Group from a hold rating to a buy rating in a research report on Monday, February 25th. Finally, Goldman Sachs Group upgraded Avis Budget Group from a sell rating to a buy rating and boosted their target price for the stock from $30.00 to $35.00 in a research note on Monday, February 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $39.50.

NASDAQ:CAR opened at $34.32 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 33.24. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $50.32. The stock has a market capitalization of $2.66 billion, a PE ratio of 9.40 and a beta of 1.95.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.31 by $0.22. Avis Budget Group had a net margin of 1.81% and a return on equity of 66.29%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business posted $0.45 EPS. Avis Budget Group’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Avis Budget Group will post 3.88 EPS for the current year.

In related news, major shareholder Srs Investment Management, Llc acquired 4,189,300 shares of the stock in a transaction dated Friday, February 22nd. The stock was acquired at an average cost of $35.33 per share, for a total transaction of $148,007,969.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael K. Tucker sold 4,796 shares of Avis Budget Group stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $35.50, for a total transaction of $170,258.00. Following the sale, the executive vice president now owns 66,906 shares of the company’s stock, valued at $2,375,163. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank grew its stake in Avis Budget Group by 1.9% during the 1st quarter. First Hawaiian Bank now owns 16,180 shares of the business services provider’s stock valued at $564,000 after purchasing an additional 302 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Avis Budget Group by 1.6% in the fourth quarter. Texas Permanent School Fund now owns 42,516 shares of the business services provider’s stock worth $956,000 after purchasing an additional 660 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Avis Budget Group by 3.9% in the fourth quarter. Alps Advisors Inc. now owns 24,099 shares of the business services provider’s stock worth $542,000 after purchasing an additional 900 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Avis Budget Group by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock worth $380,000 after purchasing an additional 1,006 shares during the period. Finally, Loeb Partners Corp acquired a new stake in shares of Avis Budget Group during the fourth quarter worth about $32,000.

Avis Budget Group Company Profile

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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 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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