Avis Budget Group, Inc. (NASDAQ:CAR) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating and set a $45.00 price objective on shares of Avis Budget Group in a report on Wednesday, June 14th. J P Morgan Chase & Co assumed coverage on shares of Avis Budget Group in a report on Friday, August 4th. They set an “overweight” rating and a $39.00 price objective on the stock. Finally, B. Riley assumed coverage on shares of Avis Budget Group in a report on Friday, September 22nd. They set a “buy” rating and a $36.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.89.

Avis Budget Group (NASDAQ CAR) opened at 39.19 on Thursday. The stock has a 50 day moving average of $36.03 and a 200-day moving average of $29.87. The firm has a market capitalization of $3.24 billion, a P/E ratio of 46.16 and a beta of 2.48. Avis Budget Group has a 1-year low of $20.71 and a 1-year high of $41.53.

Avis Budget Group (NASDAQ:CAR) last issued 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). Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities research analysts anticipate that Avis Budget Group will post $2.59 earnings per share for the current year.

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In other Avis Budget Group news, SVP David T. Calabria sold 1,300 shares of Avis Budget Group stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total value of $46,618.00. Following the sale, the senior vice president now directly owns 5,662 shares in the company, valued at approximately $203,039.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Jr. Hardy sold 908 shares of Avis Budget Group 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 completion of the sale, the director now owns 908 shares in the company, valued at $29,764.24. The disclosure for this sale can be found here. Insiders sold a total of 185,708 shares of company stock worth $6,878,212 over the last quarter. Company insiders own 2.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. FNY Managed Accounts LLC acquired a new stake in Avis Budget Group in the 1st quarter valued at $102,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Avis Budget Group during the 2nd quarter worth about $191,000. World Asset Management Inc increased its stake in shares of Avis Budget Group by 8.9% during the 1st quarter. World Asset Management Inc now owns 7,474 shares of the business services provider’s stock worth $221,000 after purchasing an additional 610 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Avis Budget Group during the 2nd quarter worth about $225,000. Finally, LS Investment Advisors LLC increased its stake in shares of Avis Budget Group by 13.0% during the 2nd quarter. LS Investment Advisors LLC now owns 8,881 shares of the business services provider’s stock worth $242,000 after purchasing an additional 1,024 shares during the last quarter.

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.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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