A number of other equities analysts have also weighed in on the stock. Morgan Stanley cut their target price on shares of Avis Budget Group from $19.00 to $18.00 and set an underweight rating for the company in a research report on Friday, August 25th. Credit Suisse Group reiterated a hold rating on shares of Avis Budget Group in a research report on Thursday, September 14th. Desjardins reiterated a hold rating on shares of Avis Budget Group in a research report on Friday, August 11th. Deutsche Bank AG reiterated a buy rating and set a $49.00 target price (up previously from $44.00) on shares of Avis Budget Group in a research report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Avis Budget Group from a hold rating to a sell rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Avis Budget Group has a consensus rating of Hold and a consensus price target of $37.70.
Avis Budget Group (NASDAQ:CAR) traded down $0.14 on Friday, reaching $33.32. 1,938,500 shares of the company traded hands, compared to its average volume of 2,862,655. The company has a market capitalization of $2,724.36, a price-to-earnings ratio of 12.82 and a beta of 2.57. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28. Avis Budget Group has a one year low of $20.71 and a one year high of $42.40.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.11. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.78 billion. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.47 earnings per share. equities analysts predict that Avis Budget Group will post 2.6 EPS for the current year.
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The company also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.107 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%.
In related news, Director John D. Jr. Hardy sold 831 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.36, for a total value of $29,384.16. Following the sale, the director now directly owns 831 shares of the company’s stock, valued at $29,384.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David T. Calabria sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total transaction of $46,618.00. Following the completion of the sale, the senior vice president now directly owns 5,662 shares in the company, valued at $203,039.32. The disclosure for this sale can be found here. Insiders sold 460,631 shares of company stock valued at $18,182,832 over the last 90 days. 2.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CAR. Crow Point Partners LLC purchased a new stake in Avis Budget Group in the third quarter valued at approximately $107,000. FNY Managed Accounts LLC purchased a new stake in Avis Budget Group in the third quarter valued at approximately $160,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Avis Budget Group in the second quarter valued at approximately $191,000. Deprince Race & Zollo Inc. purchased a new stake in Avis Budget Group in the third quarter valued at approximately $202,000. Finally, Brown Advisory Inc. purchased a new position in shares of Avis Budget Group during the third quarter worth approximately $204,000.
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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