BidaskClub upgraded shares of Avis Budget Group (NASDAQ:CAR) from a buy rating to a strong-buy rating in a report released on Friday morning.
A number of other brokerages have also issued reports on CAR. Zacks Investment Research upgraded Avis Budget Group from a strong sell rating to a hold rating in a research report on Tuesday, February 27th. Deutsche Bank increased their target price on Avis Budget Group from $48.00 to $51.00 and gave the company a buy rating in a research report on Friday, February 23rd. ValuEngine upgraded Avis Budget Group from a hold rating to a buy rating in a research report on Monday, December 11th. Finally, Goldman Sachs lowered Avis Budget Group from a neutral rating to a sell rating and decreased their target price for the company from $40.12 to $33.00 in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Avis Budget Group presently has a consensus rating of Buy and an average price target of $37.60.
Avis Budget Group (CAR) traded up $0.21 during trading on Friday, reaching $48.93. The company’s stock had a trading volume of 4,609,548 shares, compared to its average volume of 2,584,420. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 22.33. Avis Budget Group has a 1-year low of $20.71 and a 1-year high of $49.91. The stock has a market cap of $3,943.99, a price-to-earnings ratio of 11.25 and a beta of 2.34.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.25. Avis Budget Group had a return on equity of 76.64% and a net margin of 4.08%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. sell-side analysts forecast that Avis Budget Group will post 3.27 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Group LLC acquired a new stake in shares of Avis Budget Group in the 4th quarter worth $283,506,000. 1060 Capital LLC acquired a new stake in shares of Avis Budget Group in the 3rd quarter worth $25,874,000. Pzena Investment Management LLC increased its stake in shares of Avis Budget Group by 67.6% in the 4th quarter. Pzena Investment Management LLC now owns 1,660,313 shares of the business services provider’s stock worth $72,855,000 after acquiring an additional 669,678 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Avis Budget Group in the 4th quarter worth $18,987,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Avis Budget Group by 129.6% in the 4th quarter. Allianz Asset Management GmbH now owns 593,500 shares of the business services provider’s stock worth $26,043,000 after acquiring an additional 335,000 shares during the last quarter.
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Avis Budget Group Company Profile
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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