Avis Budget Group (CAR) Rating Increased to Buy at BidaskClub
Avis Budget Group (NASDAQ:CAR) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other research firms have also issued reports on CAR. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, July 30th. Barclays reduced their target price on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. ValuEngine lowered shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Morgan Stanley started coverage on shares of Avis Budget Group in a report on Tuesday, June 26th. They issued an “underweight” rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Avis Budget Group currently has a consensus rating of “Hold” and an average target price of $43.71.
Avis Budget Group stock opened at $30.56 on Tuesday. Avis Budget Group has a 52 week low of $29.94 and a 52 week high of $50.88. The company has a debt-to-equity ratio of 41.18, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $2.55 billion, a P/E ratio of 10.72 and a beta of 1.89.
In other Avis Budget Group news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $34.63, for a total value of $450,190.00. Following the transaction, the director now directly owns 2,339 shares in the company, valued at approximately $80,999.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CAR. New York State Common Retirement Fund lifted its holdings in shares of Avis Budget Group by 6.8% during the 1st quarter. New York State Common Retirement Fund now owns 92,500 shares of the business services provider’s stock worth $4,333,000 after acquiring an additional 5,902 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Avis Budget Group by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,936 shares of the business services provider’s stock worth $74,473,000 after acquiring an additional 58,655 shares during the period. Sei Investments Co. lifted its holdings in shares of Avis Budget Group by 12,509.1% during the 1st quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock worth $195,000 after acquiring an additional 4,128 shares during the period. Stifel Financial Corp purchased a new position in shares of Avis Budget Group during the 1st quarter worth about $240,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Avis Budget Group by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 309,148 shares of the business services provider’s stock worth $14,480,000 after acquiring an additional 5,221 shares during the period.
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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