TheStreet Upgrades Avis Budget Group, Inc. (CAR) to B-
Avis Budget Group, Inc. (NASDAQ:CAR) was upgraded by stock analysts at TheStreet from a “c” rating to a “b-” rating in a research report issued on Friday.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Northcoast Research reaffirmed a “buy” rating on shares of Avis Budget Group in a report on Tuesday, November 7th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Avis Budget Group in a report on Friday, August 11th. ValuEngine downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, J P Morgan Chase & Co assumed coverage on Avis Budget Group in a report on Friday, August 4th. They set an “overweight” rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.70.
Shares of Avis Budget Group (NASDAQ:CAR) opened at $33.32 on Friday. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $42.40. The company has a market capitalization of $2,724.36, a price-to-earnings ratio of 12.82 and a beta of 2.57. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24.
Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, November 6th. The business services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. equities research analysts anticipate that Avis Budget Group will post 2.6 EPS for the current year.
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In other Avis Budget Group news, Director Stender E. Sweeney sold 1,500 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $35.02, for a total value of $52,530.00. Following the transaction, the director now owns 1,359 shares of the company’s stock, valued at $47,592.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward P. Linnen sold 3,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $36.09, for a total value of $108,270.00. Following the completion of the transaction, the executive vice president now directly owns 17,919 shares in the company, valued at approximately $646,696.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 460,631 shares of company stock worth $18,182,832. Corporate insiders own 2.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CAR. Wellington Management Group LLP lifted its holdings in Avis Budget Group by 295.6% in the first quarter. Wellington Management Group LLP now owns 53,950 shares of the business services provider’s stock valued at $1,596,000 after acquiring an additional 40,311 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of Avis Budget Group by 6.6% in the first quarter. Thrivent Financial For Lutherans now owns 16,240 shares of the business services provider’s stock worth $480,000 after buying an additional 1,000 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Avis Budget Group by 10.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 400,428 shares of the business services provider’s stock worth $11,845,000 after buying an additional 38,739 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Avis Budget Group in the first quarter worth about $300,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Avis Budget Group by 3.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,301 shares of the business services provider’s stock worth $935,000 after buying an additional 1,301 shares during the period.
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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