Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $35.53.
A number of brokerages recently issued reports on CAR. Barclays PLC set a $36.00 price objective on shares of Avis Budget Group and gave the company a “hold” rating in a report on Saturday, February 18th. Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 20th. Credit Suisse Group AG lowered shares of Avis Budget Group from an “outperform” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Friday, February 17th. Finally, TheStreet lowered shares of Avis Budget Group from a “b-” rating to a “c” rating in a report on Thursday, February 16th.
Avis Budget Group (NASDAQ:CAR) traded up 0.38% on Tuesday, reaching $29.44. 2,403,361 shares of the company were exchanged. Avis Budget Group has a 12-month low of $22.96 and a 12-month high of $41.53. The firm has a 50-day moving average of $30.33 and a 200 day moving average of $34.82. The firm has a market capitalization of $2.53 billion, a P/E ratio of 16.82 and a beta of 2.03.
Avis Budget Group (NASDAQ:CAR) last released its earnings results on Wednesday, February 15th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. Avis Budget Group had a return on equity of 68.51% and a net margin of 2.18%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.96 billion. On average, equities analysts predict that Avis Budget Group will post $3.32 earnings per share for the current year.
In related news, Director John D. Jr. Hardy sold 870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $34.16, for a total value of $29,719.20. Following the sale, the director now owns 870 shares of the company’s stock, valued at $29,719.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC acquired a new position in shares of Avis Budget Group during the third quarter worth about $2,254,000. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Avis Budget Group by 178.8% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 69,700 shares of the business services provider’s stock worth $2,384,000 after buying an additional 44,700 shares during the period. Quantbot Technologies LP acquired a new position in shares of Avis Budget Group during the third quarter worth about $1,182,000. World Asset Management Inc acquired a new position in shares of Avis Budget Group during the third quarter worth about $258,000. Finally, Chicago Equity Partners LLC purchased a new position in Avis Budget Group during the third quarter worth $3,298,000.
About Avis Budget Group
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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