Avis Budget Group Inc. (CAR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.40.

CAR has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a report on Friday, July 13th. Barclays lowered their price target on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 22nd. Northcoast Research raised shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, July 30th. Zacks Investment Research downgraded shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Goldman Sachs Group set a $30.00 price target on shares of Avis Budget Group and gave the stock a “sell” rating in a report on Tuesday, October 16th.

Shares of NASDAQ CAR opened at $31.44 on Friday. Avis Budget Group has a 1 year low of $29.94 and a 1 year high of $50.88. The firm has a market cap of $2.45 billion, a P/E ratio of 11.03 and a beta of 1.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 41.18.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, research analysts anticipate that Avis Budget Group will post 3.48 EPS for the current year.

In other Avis Budget Group news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $34.63, for a total transaction of $450,190.00. Following the transaction, the director now directly owns 2,339 shares of the company’s stock, valued at $80,999.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CAR. Cerebellum GP LLC purchased a new position in Avis Budget Group during the second quarter valued at $142,000. Summit Trail Advisors LLC raised its position in shares of Avis Budget Group by 3,465.8% in the first quarter. Summit Trail Advisors LLC now owns 177,078 shares of the business services provider’s stock valued at $177,000 after buying an additional 172,112 shares during the last quarter. Sei Investments Co. raised its position in shares of Avis Budget Group by 12,509.1% in the first quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock valued at $195,000 after buying an additional 4,128 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Avis Budget Group in the second quarter valued at about $224,000. Finally, Stifel Financial Corp acquired a new stake in shares of Avis Budget Group in the first quarter valued at about $240,000.

Avis Budget Group Company Profile

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.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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