ValuEngine Upgrades Avis Budget Group, Inc. (CAR) to Buy
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.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.watchlistnews.com/valuengine-upgrades-avis-budget-group-inc-car-to-buy/1608732.html.
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.
Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.