Brokerages Set Avis Budget Group Inc. (CAR) PT at $37.80

Avis Budget Group Inc. (NASDAQ:CAR) has received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $37.80.

A number of brokerages recently weighed in on CAR. Goldman Sachs Group set a $30.00 target price on shares of Avis Budget Group and gave the stock a “sell” rating in a report on Tuesday, October 16th. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Finally, Deutsche Bank set a $45.00 target price on shares of Avis Budget Group and gave the stock a “buy” rating in a report on Thursday, October 25th.

CAR traded up $0.44 during trading on Friday, reaching $26.01. 1,488,300 shares of the stock were exchanged, compared to its average volume of 1,611,988. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 9.13 and a beta of 1.88. Avis Budget Group has a twelve month low of $21.63 and a twelve month high of $50.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 27.75.



Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, November 5th. The business services provider reported $3.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.21). The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a return on equity of 60.18% and a net margin of 4.09%. Avis Budget Group’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.10 earnings per share. As a group, research analysts forecast that Avis Budget Group will post 3.43 earnings per share for the current year.

In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $29.29, for a total value of $49,793.00. Following the transaction, the senior vice president now directly owns 7,661 shares in the company, valued at $224,390.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. bought a new stake in shares of Avis Budget Group in the second quarter valued at about $429,000. Sei Investments Co. boosted its position in shares of Avis Budget Group by 69.9% in the second quarter. Sei Investments Co. now owns 7,068 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 2,907 shares during the period. Arizona State Retirement System boosted its position in shares of 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 valued at $1,613,000 after acquiring an additional 1,477 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Avis Budget Group in the second quarter valued at about $2,760,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Avis Budget Group by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 621,341 shares of the business services provider’s stock valued at $20,194,000 after acquiring an additional 26,649 shares during the period.

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.

Further Reading: Intrinsic Value and Stock Selection

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply