Avis Budget Group, Inc. (NASDAQ:CAR) had its target price decreased by Deutsche Bank AG from $49.00 to $48.00 in a research note issued to investors on Wednesday. Deutsche Bank AG currently has a buy rating on the business services provider’s stock.
Other analysts have also issued reports about the company. BidaskClub raised Avis Budget Group from a buy rating to a strong-buy rating in a report on Monday, August 14th. Northcoast Research reaffirmed a buy rating on shares of Avis Budget Group in a report on Tuesday, November 7th. ValuEngine lowered Avis Budget Group from a buy rating to a hold rating in a report on Monday, August 7th. J P Morgan Chase & Co began coverage on Avis Budget Group in a report on Friday, August 4th. They set an overweight rating and a $39.00 target price on the stock. Finally, B. Riley began coverage on Avis Budget Group in a report on Friday, September 22nd. They set a buy rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Avis Budget Group has an average rating of Hold and an average price target of $37.70.
Avis Budget Group (NASDAQ:CAR) traded down $0.44 during trading on Wednesday, reaching $33.46. The company had a trading volume of 4,172,800 shares, compared to its average volume of 2,341,234. The firm has a market capitalization of $2,724.38, a price-to-earnings ratio of 12.82 and a beta of 2.57. Avis Budget Group has a 12-month low of $20.71 and a 12-month high of $42.40. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.27 and a current ratio of 1.28.
Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, November 6th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $2.99 by $0.11. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.78 billion. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. Avis Budget Group’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. sell-side analysts anticipate that Avis Budget Group will post 2.6 earnings per share for the current fiscal year.
In other news, CEO Shon Larry D. De sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.00, for a total value of $1,050,000.00. Following the transaction, the chief executive officer now owns 222,365 shares in the company, valued at $9,339,330. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward P. Linnen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.09, for a total value of $108,270.00. Following the completion of the transaction, the executive vice president now owns 17,919 shares in the company, valued at approximately $646,696.71. The disclosure for this sale can be found here. Insiders have sold 459,800 shares of company stock worth $18,153,448 in the last quarter. 2.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in shares of Avis Budget Group in the third quarter valued at approximately $1,358,000. SG Capital Management LLC purchased a new position in shares of Avis Budget Group in the third quarter valued at approximately $9,129,000. FNY Managed Accounts LLC purchased a new position in shares of Avis Budget Group in the third quarter valued at approximately $160,000. Pacer Advisors Inc. lifted its position in shares of Avis Budget Group by 85.8% in the third quarter. Pacer Advisors Inc. now owns 17,209 shares of the business services provider’s stock valued at $655,000 after acquiring an additional 7,948 shares in the last quarter. Finally, 1060 Capital LLC purchased a new position in shares of Avis Budget Group in the third quarter valued at approximately $25,874,000.
Avis Budget Group Company Profile
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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