BidaskClub upgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Several 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 for the company in a research note on Monday, July 30th. Deutsche Bank upped their target price on shares of Avis Budget Group from $51.00 to $53.00 and gave the stock a buy rating in a research note on Friday, May 4th. ValuEngine lowered shares of Avis Budget Group from a buy rating to a hold rating in a research note on Thursday, May 31st. Zacks Investment Research lowered shares of Avis Budget Group from a strong-buy rating to a hold rating in a research note on Wednesday, August 1st. Finally, TheStreet lowered shares of Avis Budget Group from a b- rating to a c rating in a research note on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Avis Budget Group has a consensus rating of Hold and a consensus target price of $43.13.

NASDAQ CAR opened at $34.95 on Thursday. Avis Budget Group has a 1 year low of $30.67 and a 1 year high of $50.88. The company has a debt-to-equity ratio of 41.18, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $2.67 billion, a PE ratio of 12.26 and a beta of 2.06.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business posted $0.30 EPS. analysts forecast that Avis Budget Group will post 3.51 earnings per share for the current fiscal year.

In related news, Director Lynn Krominga sold 10,000 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now owns 305 shares in the company, valued at $12,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael K. Tucker sold 7,218 shares of the stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $43.00, for a total transaction of $310,374.00. Following the transaction, the executive vice president now owns 64,354 shares of the company’s stock, valued at approximately $2,767,222. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC lifted its holdings in Avis Budget Group by 40.9% during the first quarter. MetLife Investment Advisors LLC now owns 110,158 shares of the business services provider’s stock valued at $5,160,000 after purchasing an additional 31,973 shares during the last quarter. Bank of Montreal Can lifted its holdings in Avis Budget Group by 8,897.6% during the second quarter. Bank of Montreal Can now owns 1,476,145 shares of the business services provider’s stock valued at $47,975,000 after purchasing an additional 1,459,739 shares during the last quarter. Stifel Financial Corp purchased a new stake in Avis Budget Group during the first quarter valued at about $240,000. Hosking Partners LLP lifted its holdings in Avis Budget Group by 4.3% during the first quarter. Hosking Partners LLP now owns 201,938 shares of the business services provider’s stock valued at $9,459,000 after purchasing an additional 8,388 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Avis Budget Group by 6.8% during the first quarter. New York State Common Retirement Fund now owns 92,500 shares of the business services provider’s stock valued at $4,333,000 after purchasing an additional 5,902 shares during the last quarter.

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.

See Also: Book Value Per Share – BVPS

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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