BidaskClub upgraded shares of Avis Budget Group (NASDAQ:CAR) from a strong sell rating to a sell rating in a report released on Tuesday morning, BidAskClub reports.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Avis Budget Group from a strong-buy rating to a hold rating in a report on Tuesday, April 30th. ValuEngine lowered shares of Avis Budget Group from a sell rating to a strong sell rating in a research note on Saturday, May 18th. Deutsche Bank reaffirmed a buy rating and issued a $48.00 price target on shares of Avis Budget Group in a research note on Wednesday, March 6th. Finally, Goldman Sachs Group raised shares of Avis Budget Group from a sell rating to a buy rating and lifted their price target for the company from $30.00 to $35.00 in a research note on Monday, February 11th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of Hold and a consensus target price of $39.67.
Shares of NASDAQ CAR opened at $32.66 on Tuesday. The company has a market cap of $2.33 billion, a P/E ratio of 8.95 and a beta of 1.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 51.70. Avis Budget Group has a 52-week low of $21.63 and a 52-week high of $43.21.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.78) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.02) by $0.24. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.74) earnings per share. As a group, equities research analysts predict that Avis Budget Group will post 3.99 earnings per share for the current year.
In other Avis Budget Group news, insider Mark J. Servodidio sold 38,000 shares of Avis Budget Group stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $37.07, for a total value of $1,408,660.00. Following the transaction, the insider now owns 60,711 shares of the company’s stock, valued at $2,250,556.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in shares of Avis Budget Group by 330.1% in the fourth quarter. Two Sigma Advisers LP now owns 120,074 shares of the business services provider’s stock worth $2,699,000 after purchasing an additional 92,155 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Avis Budget Group by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock worth $380,000 after purchasing an additional 1,006 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Avis Budget Group in the fourth quarter worth $1,310,000. Commonwealth Bank of Australia lifted its position in shares of Avis Budget Group by 45.8% in the fourth quarter. Commonwealth Bank of Australia now owns 258,503 shares of the business services provider’s stock worth $5,807,000 after purchasing an additional 81,200 shares in the last quarter. Finally, Loeb Partners Corp bought a new stake in shares of Avis Budget Group in the fourth quarter worth $32,000.
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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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