Avis Budget Group Inc. (NASDAQ:CAR) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $37.80.
Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Friday. Deutsche Bank set a $45.00 price objective on Avis Budget Group and gave the stock a “buy” rating in a research report on Thursday. Goldman Sachs Group set a $30.00 price objective on Avis Budget Group and gave the stock a “sell” rating in a research report on Tuesday, October 16th. BidaskClub upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, ValuEngine downgraded Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th.
CAR stock traded down $0.94 during midday trading on Friday, reaching $27.91. The company had a trading volume of 1,233,477 shares, compared to its average volume of 2,096,761. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 41.18. Avis Budget Group has a fifty-two week low of $27.52 and a fifty-two week high of $50.88. The company has a market cap of $2.47 billion, a P/E ratio of 9.79 and a beta of 1.89.
In other Avis Budget Group news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $34.63, for a total value of $450,190.00. Following the completion of the sale, the director now directly owns 2,339 shares in the company, valued at $80,999.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Nova Scotia acquired a new stake in Avis Budget Group in the second quarter worth approximately $16,250,000. Paloma Partners Management Co acquired a new stake in Avis Budget Group in the second quarter worth approximately $1,331,000. Arizona State Retirement System lifted its position in Avis Budget Group by 3.1% in the second quarter. Arizona State Retirement System now owns 49,646 shares of the business services provider’s stock worth $1,613,000 after purchasing an additional 1,477 shares during the period. Russell Investments Group Ltd. acquired a new stake in Avis Budget Group in the second quarter worth approximately $2,760,000. Finally, Alps Advisors Inc. acquired a new stake in Avis Budget Group in the second quarter worth approximately $429,000.
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 5,450 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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