Shares of Avis Budget Group Inc. (NASDAQ:CAR) have received an average recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.80.
A number of analysts recently commented on the company. Goldman Sachs Group set a $30.00 price objective on Avis Budget Group and gave the company a “sell” rating in a research report on Tuesday, October 16th. Deutsche Bank set a $45.00 price target on Avis Budget Group and gave the stock a “buy” rating in a research report on Tuesday, November 6th. BidaskClub cut Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Finally, Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th.
In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the company’s stock in a transaction dated Tuesday, November 27th. The stock was 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 owns 7,661 shares in the company, valued at $224,390.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Avis Budget Group during the fourth quarter worth about $59,000. Tower Research Capital LLC TRC grew its position in shares of Avis Budget Group by 2,182.1% during the third quarter. Tower Research Capital LLC TRC now owns 6,390 shares of the business services provider’s stock worth $205,000 after purchasing an additional 6,110 shares in the last quarter. Cerebellum GP LLC grew its position in shares of Avis Budget Group by 7,427.9% during the fourth quarter. Cerebellum GP LLC now owns 9,711 shares of the business services provider’s stock worth $218,000 after purchasing an additional 9,582 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Avis Budget Group during the third quarter worth about $346,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of Avis Budget Group by 30.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 12,705 shares of the business services provider’s stock worth $286,000 after purchasing an additional 3,000 shares in the last quarter.
Avis Budget Group stock traded down $0.03 during mid-day trading on Tuesday, reaching $26.61. 633,381 shares of the stock traded hands, compared to its average volume of 1,252,749. The stock has a market cap of $2.06 billion, a PE ratio of 9.34 and a beta of 1.95. The company has a debt-to-equity ratio of 27.75, a quick ratio of 1.14 and a current ratio of 1.14. Avis Budget Group has a 12-month low of $21.63 and a 12-month high of $50.88.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.21). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $3.10 EPS. As a group, sell-side analysts predict that Avis Budget Group will post 3.43 EPS for the current fiscal year.
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.
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