BidaskClub Downgrades Avis Budget Group (NASDAQ:CAR) to Sell

BidaskClub lowered shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Several other equities analysts have also commented on the company. Northcoast Research reissued a buy rating on shares of Avis Budget Group in a research report on Tuesday, August 6th. Zacks Investment Research lowered Avis Budget Group from a strong-buy rating to a hold rating in a research report on Tuesday, April 30th. Morgan Stanley set a $32.00 price target on Avis Budget Group and gave the stock a sell rating in a research report on Friday, August 9th. ValuEngine lowered Avis Budget Group from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Finally, TheStreet raised Avis Budget Group from a c rating to a b- rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $39.00.

Shares of NASDAQ:CAR opened at $24.69 on Thursday. The company has a debt-to-equity ratio of 46.72, a quick ratio of 0.86 and a current ratio of 0.86. Avis Budget Group has a 1 year low of $21.63 and a 1 year high of $37.27. The stock has a market capitalization of $1.93 billion, a P/E ratio of 6.76 and a beta of 2.08. The stock has a 50-day simple moving average of $32.97 and a 200-day simple moving average of $33.15.



Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Monday, August 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.06. The business had revenue of $2.34 billion during 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 company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Analysts predict that Avis Budget Group will post 4.05 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new position in Avis Budget Group during the 2nd quarter worth approximately $30,000. Pearl River Capital LLC raised its position in shares of Avis Budget Group by 51.6% in the 2nd quarter. Pearl River Capital LLC now owns 1,483 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 505 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Avis Budget Group in the 1st quarter valued at approximately $83,000. Oppenheimer Asset Management Inc. raised its position in shares of Avis Budget Group by 13.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,294 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 403 shares in the last quarter. Finally, Exane Derivatives acquired a new position in shares of Avis Budget Group in the 2nd quarter valued at approximately $132,000.

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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