Avis Budget Group, Inc. (CAR) PT Raised to $32.00
Avis Budget Group, Inc. (NASDAQ:CAR) had its target price upped by stock analysts at Barclays PLC from $30.00 to $32.00 in a research report issued on Wednesday. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Barclays PLC’s target price points to a potential downside of 21.97% from the company’s current price.
CAR has been the topic of a number of other reports. Morgan Stanley reduced their price target on shares of Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, August 25th. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group reissued a “hold” rating on shares of Avis Budget Group in a research report on Thursday, September 14th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $49.00 price objective (up from $44.00) on shares of Avis Budget Group in a research report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Avis Budget Group currently has a consensus rating of “Buy” and a consensus target price of $37.80.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share.
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In other Avis Budget Group news, SVP David T. Calabria sold 1,300 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total transaction of $46,618.00. Following the sale, the senior vice president now directly owns 5,662 shares of the company’s stock, valued at approximately $203,039.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Jr. Hardy sold 908 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $32.78, for a total transaction of $29,764.24. Following the sale, the director now directly owns 908 shares in the company, valued at $29,764.24. The disclosure for this sale can be found here. Insiders have sold a total of 460,708 shares of company stock worth $18,183,212 over the last three months. Insiders own 2.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Crow Point Partners LLC bought a new stake in Avis Budget Group during the 3rd quarter worth about $107,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Avis Budget Group during the 2nd quarter worth about $191,000. Telemus Capital LLC bought a new stake in Avis Budget Group during the 3rd quarter worth about $211,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Avis Budget Group during the 2nd quarter worth about $225,000. Finally, Strs Ohio acquired a new position in shares of Avis Budget Group during the 3rd quarter worth about $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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