Avis Budget Group Inc. (NASDAQ:CAR) Receives Consensus Rating of “Hold” from Brokerages

Avis Budget Group Inc. (NASDAQ:CAR) has received a consensus rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $38.25.

A number of research firms have commented on CAR. BidaskClub cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. Morgan Stanley set a $32.00 price target on Avis Budget Group and gave the company a “sell” rating in a report on Friday, August 9th. TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a report on Monday, August 5th. Finally, ValuEngine cut Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st.

Avis Budget Group stock traded down $0.14 during trading on Friday, reaching $25.58. The company had a trading volume of 54,621 shares, compared to its average volume of 1,365,592. Avis Budget Group has a 52 week low of $21.63 and a 52 week high of $37.27. The firm’s 50-day simple moving average is $33.35 and its 200 day simple moving average is $33.17. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 7.01 and a beta of 2.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 46.72.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.06. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Avis Budget Group had a return on equity of 75.35% and a net margin of 2.17%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. On average, analysts predict that Avis Budget Group will post 4.05 earnings per share for the current year.

Several hedge funds have recently modified their holdings of CAR. World Asset Management Inc grew its position in Avis Budget Group by 4.3% in the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after acquiring an additional 319 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Avis Budget Group by 13.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 3,294 shares of the business services provider’s stock worth $116,000 after acquiring an additional 403 shares in the last quarter. Pearl River Capital LLC grew its position in Avis Budget Group by 51.6% in the second quarter. Pearl River Capital LLC now owns 1,483 shares of the business services provider’s stock worth $52,000 after acquiring an additional 505 shares in the last quarter. Arizona State Retirement System grew its position in Avis Budget Group by 1.3% in the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after acquiring an additional 578 shares in the last quarter. Finally, Texas Permanent School Fund grew its position in Avis Budget Group by 1.6% in the first quarter. Texas Permanent School Fund now owns 43,215 shares of the business services provider’s stock worth $1,506,000 after acquiring an additional 699 shares in the last quarter.

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 5,500 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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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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