Avis Budget Group (NASDAQ:CAR) Lowered to Buy at BidaskClub
A number of other equities research analysts have also recently issued reports on the stock. Barclays restated a hold rating and set a $33.00 price target on shares of Avis Budget Group in a report on Wednesday, October 23rd. TheStreet upgraded shares of Avis Budget Group from a c rating to a b- rating in a report on Friday, December 6th. Jefferies Financial Group started coverage on shares of Avis Budget Group in a report on Thursday, November 21st. They set a buy rating for the company. ValuEngine upgraded shares of Avis Budget Group from a strong sell rating to a sell rating in a report on Tuesday, December 3rd. Finally, Deutsche Bank restated a hold rating and set a $31.00 price target on shares of Avis Budget Group in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $34.40.
Avis Budget Group stock opened at $32.75 on Friday. The company has a debt-to-equity ratio of 34.23, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.43 and a beta of 2.09. Avis Budget Group has a one year low of $23.86 and a one year high of $37.27. The company’s fifty day moving average price is $33.35 and its two-hundred day moving average price is $30.64.
In other Avis Budget Group news, CEO Shon Larry D. De sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.00, for a total transaction of $825,000.00. Following the completion of the sale, the chief executive officer now directly owns 270,574 shares in the company, valued at $8,928,942. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAR. NEXT Financial Group Inc lifted its stake in shares of Avis Budget Group by 89.3% in the fourth quarter. NEXT Financial Group Inc now owns 1,295 shares of the business services provider’s stock valued at $42,000 after buying an additional 611 shares during the period. Convergence Investment Partners LLC lifted its stake in shares of Avis Budget Group by 9.7% in the third quarter. Convergence Investment Partners LLC now owns 4,129 shares of the business services provider’s stock valued at $117,000 after buying an additional 364 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Avis Budget Group by 25.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,132 shares of the business services provider’s stock valued at $117,000 after buying an additional 838 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Avis Budget Group in the second quarter valued at about $151,000. Finally, Dupont Capital Management Corp lifted its stake in shares of Avis Budget Group by 10.2% in the third quarter. Dupont Capital Management Corp now owns 5,913 shares of the business services provider’s stock valued at $167,000 after buying an additional 549 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.
Avis Budget Group Company Profile
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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