Avis Budget Group (CAR) Receives $37.88 Average PT from Analysts

Shares of Avis Budget Group (NASDAQ:CAR) have been given a consensus rating of “Buy” by the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.88.

Several equities analysts have weighed in on CAR shares. Zacks Investment Research lowered Avis Budget Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Goldman Sachs lowered Avis Budget Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $40.12 to $33.00 in a report on Wednesday, February 14th. BidaskClub upgraded Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Friday, March 16th. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Finally, Deutsche Bank raised their target price on Avis Budget Group from $48.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 23rd.

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NASDAQ CAR traded down $0.03 during trading on Wednesday, hitting $48.22. 894,530 shares of the company traded hands, compared to its average volume of 2,315,271. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $50.88. The company has a debt-to-equity ratio of 22.33, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $3,911.90, a P/E ratio of 16.93 and a beta of 2.19.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share for the quarter, beating 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 company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. equities analysts expect that Avis Budget Group will post 3.27 EPS for the current year.

Large investors have recently modified their holdings of the company. Teacher Retirement System of Texas grew its position in shares of Avis Budget Group by 309.1% in the fourth quarter. Teacher Retirement System of Texas now owns 25,611 shares of the business services provider’s stock valued at $1,124,000 after purchasing an additional 19,351 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Avis Budget Group by 4.7% in the third quarter. Parametric Portfolio Associates LLC now owns 528,463 shares of the business services provider’s stock valued at $20,113,000 after purchasing an additional 23,675 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Avis Budget Group by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,506,635 shares of the business services provider’s stock valued at $57,343,000 after purchasing an additional 28,250 shares during the last quarter. Crow Point Partners LLC grew its position in shares of Avis Budget Group by 157.0% in the fourth quarter. Crow Point Partners LLC now owns 7,200 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 4,398 shares during the last quarter. Finally, Jefferies Group LLC acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at about $283,506,000.

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About Avis Budget Group

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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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