Avis Budget Group, Inc. (CAR) Downgraded by BidaskClub
BidaskClub downgraded shares of Avis Budget Group, Inc. (NASDAQ:CAR) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.
A number of other research firms also recently issued reports on CAR. Zacks Investment Research downgraded shares of Avis Budget Group from a hold rating to a sell rating in a research report on Wednesday, August 2nd. J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a report on Friday, August 4th. They set an overweight rating and a $39.00 price target on the stock. ValuEngine downgraded shares of Avis Budget Group from a buy rating to a hold rating in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) reiterated a hold rating and issued a $37.00 target price on shares of Avis Budget Group in a research note on Thursday, September 7th. Finally, Barclays PLC raised their target price on shares of Avis Budget Group from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of Buy and an average target price of $37.80.
Avis Budget Group (NASDAQ:CAR) traded up $0.41 during mid-day trading on Friday, reaching $41.38. 1,703,526 shares of the company’s stock were exchanged, compared to its average volume of 1,647,013. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $42.40. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 100.73. The stock has a market cap of $3,386.26, a P/E ratio of 20.69 and a beta of 2.57.
In related news, Director John D. Jr. Hardy sold 908 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $32.78, for a total transaction of $29,764.24. Following the completion of the transaction, the director now owns 908 shares in the company, valued at $29,764.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward P. Linnen sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.09, for a total transaction of $108,270.00. Following the transaction, the executive vice president now owns 17,919 shares of the company’s stock, valued at approximately $646,696.71. The disclosure for this sale can be found here. Insiders have sold a total of 460,708 shares of company stock valued at $18,183,212 over the last three months. 2.80% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC acquired a new position in shares of Avis Budget Group in the third quarter valued at approximately $107,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Avis Budget Group in the second quarter worth $191,000. Telemus Capital LLC bought a new stake in shares of Avis Budget Group in the third quarter worth $211,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Avis Budget Group in the second quarter worth $225,000. Finally, Strs Ohio bought a new stake in shares of Avis Budget Group in the third quarter worth $232,000.
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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