Jefferies Financial Group began coverage on shares of Avis Budget Group (NASDAQ:CAR) in a report released on Thursday morning, The Fly reports. The firm issued a buy rating on the business services provider’s stock.
A number of other analysts also recently commented on the company. Barclays restated a hold rating and set a $33.00 price objective on shares of Avis Budget Group in a report on Wednesday, October 23rd. Deutsche Bank restated a hold rating and set a $31.00 price objective on shares of Avis Budget Group in a report on Wednesday. BidaskClub downgraded Avis Budget Group from a buy rating to a hold rating in a report on Thursday. Northcoast Research restated a buy rating on shares of Avis Budget Group in a report on Tuesday, August 6th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $34.40.
Shares of CAR stock traded up $0.52 on Thursday, reaching $29.23. 1,110,141 shares of the stock were exchanged, compared to its average volume of 1,311,978. The stock has a market cap of $2.20 billion, a P/E ratio of 8.01 and a beta of 2.09. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 34.23. The firm has a 50 day moving average of $28.99 and a two-hundred day moving average of $30.70. Avis Budget Group has a 1-year low of $21.63 and a 1-year high of $37.27.
Several institutional investors have recently made changes to their positions in CAR. First Trust Advisors LP grew its stake in shares of Avis Budget Group by 13.2% during the first quarter. First Trust Advisors LP now owns 37,787 shares of the business services provider’s stock valued at $1,317,000 after acquiring an additional 4,400 shares in the last quarter. Exane Derivatives bought a new position in shares of Avis Budget Group during the second quarter worth about $132,000. World Asset Management Inc lifted its position in shares of Avis Budget Group by 4.3% during the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after purchasing an additional 319 shares during the last quarter. Convergence Investment Partners LLC bought a new position in shares of Avis Budget Group during the second quarter worth about $132,000. Finally, Arizona State Retirement System lifted its position in shares of Avis Budget Group by 1.3% during the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.
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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