Avis Budget Group (CAR) Upgraded by BidaskClub to “Strong-Buy”
Avis Budget Group (NASDAQ:CAR) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
A number of other equities research analysts have also weighed in on CAR. Morgan Stanley dropped their price target on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, August 25th. Goldman Sachs Group restated a “hold” rating and set a $37.00 price target on shares of Avis Budget Group in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “hold” rating on shares of Avis Budget Group in a research report on Thursday, September 14th. B. Riley started coverage on Avis Budget Group in a research report on Friday, September 22nd. They issued a “buy” rating and a $36.00 target price on the stock. Finally, ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.70.
Shares of Avis Budget Group (NASDAQ:CAR) opened at $42.70 on Thursday. Avis Budget Group has a 52 week low of $20.71 and a 52 week high of $43.32. The firm has a market capitalization of $3,351.31, a PE ratio of 15.77 and a beta of 2.53. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. research analysts forecast that Avis Budget Group will post 2.65 EPS for the current fiscal year.
In other Avis Budget Group news, Director John D. Jr. Hardy sold 831 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $35.36, for a total value of $29,384.16. Following the sale, the director now owns 831 shares in the company, valued at approximately $29,384.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Srs Investment Management, Llc acquired 3,500,000 shares of the stock in a transaction on Friday, December 8th. The stock was bought at an average price of $40.56 per share, for a total transaction of $141,960,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 739,581 shares of company stock worth $30,037,022. Insiders own 2.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Crow Point Partners LLC acquired a new position in shares of Avis Budget Group during the 3rd quarter worth approximately $107,000. FNY Managed Accounts LLC acquired a new position in shares of Avis Budget Group during the 3rd quarter worth approximately $160,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Avis Budget Group by 1,413.3% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after buying an additional 4,240 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of Avis Budget Group during the 3rd quarter worth approximately $202,000. Finally, Brown Advisory Inc. acquired a new position in shares of Avis Budget Group during the 3rd quarter worth approximately $204,000.
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About Avis Budget Group
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.
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