Avis Budget Group (CAR) Upgraded by BidaskClub to “Strong-Buy”

Avis Budget Group (NASDAQ:CAR) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday, March 16th.

A number of other research analysts also recently weighed in on CAR. Goldman Sachs downgraded shares of 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. Deutsche Bank raised their target price on shares of 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 raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Zacks Investment Research raised shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $37.60.

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Shares of NASDAQ:CAR traded down $1.25 during midday trading on Friday, reaching $48.25. 1,662,308 shares of the company were exchanged, compared to its average volume of 1,903,812. Avis Budget Group has a fifty-two week low of $20.71 and a fifty-two week high of $50.88. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 22.33. The firm has a market cap of $3,911.92, a price-to-earnings ratio of 16.93 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business posted $0.15 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. research analysts expect that Avis Budget Group will post 3.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CAR. Aperio Group LLC grew its position in shares of Avis Budget Group by 55.0% in the 3rd quarter. Aperio Group LLC now owns 31,318 shares of the business services provider’s stock valued at $1,192,000 after acquiring an additional 11,119 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Avis Budget Group during the 3rd quarter worth about $429,000. New York State Common Retirement Fund boosted its holdings in shares of Avis Budget Group by 1.7% during the 3rd quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock worth $3,441,000 after buying an additional 1,494 shares during the period. Rhumbline Advisers boosted its holdings in shares of Avis Budget Group by 8.0% during the 3rd quarter. Rhumbline Advisers now owns 170,044 shares of the business services provider’s stock worth $6,472,000 after buying an additional 12,566 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Avis Budget Group during the 3rd quarter worth about $238,000.

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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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