Avis Budget Group, Inc. (CAR) Stock Rating Reaffirmed by Deutsche Bank AG
Avis Budget Group, Inc. (NASDAQ:CAR)‘s stock had its “buy” rating reissued by investment analysts at Deutsche Bank AG in a research note issued on Friday. They presently have a $49.00 target price on the business services provider’s stock, up from their previous target price of $44.00. Deutsche Bank AG’s price objective suggests a potential upside of 26.08% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 23rd. MKM Partners reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Avis Budget Group in a report on Wednesday, June 28th. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. B. Riley started coverage on shares of Avis Budget Group in a report on Friday, September 22nd. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.33.
Shares of Avis Budget Group (NASDAQ CAR) opened at 38.89 on Friday. The stock has a market cap of $3.21 billion, a P/E ratio of 45.81 and a beta of 2.48. Avis Budget Group has a 52-week low of $20.71 and a 52-week high of $41.53. The company has a 50-day moving average of $36.33 and a 200 day moving average of $29.98.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.32). The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Equities research analysts forecast that Avis Budget Group will post $2.59 EPS for the current fiscal year.
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In other news, SVP David T. Calabria sold 1,300 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total transaction of $46,618.00. Following the completion of the transaction, the senior vice president now owns 5,662 shares of the company’s stock, valued at $203,039.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John D. Jr. Hardy sold 908 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 908 shares of the company’s stock, valued at approximately $29,764.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,708 shares of company stock valued at $6,878,212. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CAR. Russell Investments Group Ltd. boosted its holdings in shares of Avis Budget Group by 435.5% during the first quarter. Russell Investments Group Ltd. now owns 72,420 shares of the business services provider’s stock valued at $2,142,000 after acquiring an additional 58,896 shares during the period. Karp Capital Management Corp bought a new stake in shares of Avis Budget Group during the first quarter valued at about $531,000. Ameriprise Financial Inc. raised its stake in shares of Avis Budget Group by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 236,174 shares of the business services provider’s stock valued at $6,986,000 after purchasing an additional 2,294 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Avis Budget Group by 997.5% during the first quarter. JPMorgan Chase & Co. now owns 113,684 shares of the business services provider’s stock valued at $3,362,000 after purchasing an additional 103,326 shares in the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Avis Budget Group during the first quarter valued at about $1,588,000.
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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