Avis Budget Group Inc. (CAR) Given Average Rating of “Hold” by Brokerages
Shares of Avis Budget Group Inc. (NASDAQ:CAR) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $39.40.
A number of research analysts recently commented on the stock. Deutsche Bank reaffirmed a “buy” rating and issued a $48.00 target price on shares of Avis Budget Group in a research report on Wednesday, March 6th. Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, February 28th. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Goldman Sachs Group raised shares of Avis Budget Group from a “sell” rating to a “buy” rating and increased their target price for the company from $30.00 to $35.00 in a research report on Monday, February 11th. Finally, ValuEngine raised shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd.
In other Avis Budget Group news, EVP Michael K. Tucker sold 4,796 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $35.50, for a total transaction of $170,258.00. Following the transaction, the executive vice president now directly owns 66,906 shares of the company’s stock, valued at approximately $2,375,163. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Srs Investment Management, Llc acquired 4,189,300 shares of the stock in a transaction on Friday, February 22nd. The shares were acquired at an average cost of $35.33 per share, for a total transaction of $148,007,969.00. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
Shares of NASDAQ:CAR traded down $0.04 during trading hours on Friday, reaching $35.38. The stock had a trading volume of 521,627 shares, compared to its average volume of 1,754,803. Avis Budget Group has a 1 year low of $21.63 and a 1 year high of $50.11. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 33.24. The company has a market cap of $2.69 billion, a PE ratio of 9.69 and a beta of 1.94.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.53 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Avis Budget Group will post 3.88 EPS for the current year.
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 5,500 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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