Avis Budget Group Inc. (NASDAQ:CAR) shares hit a new 52-week low during trading on Friday . The company traded as low as $26.56 and last traded at $26.62, with a volume of 59860 shares trading hands. The stock had previously closed at $28.18.
A number of research analysts recently commented on CAR shares. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Barclays lowered their price objective on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 22nd. ValuEngine downgraded shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 24th. Goldman Sachs Group set a $30.00 price objective on shares of Avis Budget Group and gave the company a “sell” rating in a research report on Tuesday, October 16th. Finally, Deutsche Bank set a $45.00 price objective on shares of Avis Budget Group and gave the company a “buy” rating in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.00.
The company has a debt-to-equity ratio of 27.75, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $2.15 billion, a P/E ratio of 9.20 and a beta of 1.80.
Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, November 5th. The business services provider reported $3.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.21). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a return on equity of 60.18% and a net margin of 4.09%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.10 earnings per share. On average, equities analysts anticipate that Avis Budget Group Inc. will post 3.43 EPS for the current fiscal year.
In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $29.29, for a total value of $49,793.00. Following the completion of the sale, the senior vice president now directly owns 7,661 shares of the company’s stock, valued at $224,390.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Bank of Nova Scotia acquired a new stake in shares of Avis Budget Group in the second quarter worth $16,250,000. Arizona State Retirement System lifted its stake in shares of Avis Budget Group by 3.1% in the second quarter. Arizona State Retirement System now owns 49,646 shares of the business services provider’s stock worth $1,613,000 after buying an additional 1,477 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Avis Budget Group in the second quarter worth $1,331,000. Russell Investments Group Ltd. acquired a new stake in shares of Avis Budget Group in the second quarter worth $2,760,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Avis Budget Group in the second quarter worth $429,000.
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About Avis Budget Group (NASDAQ:CAR)
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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