Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) has been assigned an average rating of “Hold” by the eight rating agencies that currently cover the company, MarketBeat reports. Two research analysts gave the stock a sell rating, four gave the company a hold rating and one gave the company a strong buy rating. The 12-month average price target among brokerages that have reported on the stock over the past year is $224.33.
A number of research companies have recently commented on the CAR. StockNews.com began covering Avis Budget Group stocks in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Bank of America downgraded shares of Avis Budget Group from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $250.00 to $240.00 in a research note from Wednesday, April 6. JPMorgan Chase & Co. cut its price target on Avis Budget Group shares from $205.00 to $190.00 and set a “neutral” rating on the stock in a Wednesday, Feb. 16 research note . Morgan Stanley lowered its price target on shares of Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 report. Finally, Barclays upgraded shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and raised its price target for the stock from $164.00 to $245.00 in a report from Wednesday, April 20.
CAR traded down $0.16 during Monday trading hours, hitting $298.23. 14,545 shares of the company were traded, against an average volume of 1,025,568. Avis Budget Group has a 1-year low of $65.87 and a 1-year high of $545.11. The stock’s 50-day moving average is $233.56 and its two-hundred-day moving average is $222.28. The stock has a market capitalization of $15.38 billion, a price/earnings ratio of 14.55, a PEG ratio of 0.71 and a beta of 2.15.
Avis Budget Group (NASDAQ:CAR – Get Rating) last released its quarterly earnings data on Monday, February 14. The business services provider reported earnings per share of $7.08 for the quarter, beating Thomson Reuters consensus estimate of $6.46 by $0.62. The company posted revenue of $2.57 billion for the quarter, versus analyst estimates of $2.30 billion. Avis Budget Group achieved a net margin of 13.80% and a negative return on equity of 942.00%. The company’s revenue increased 89.6% year over year. During the same period of the previous year, the company made ($0.36) earnings per share. As a group, sell-side analysts expect Avis Budget Group to post EPS of 22.41 for the current fiscal year.
Separately, director Lynn Krominga sold 5,823 shares of the company in a trade that took place on Thursday, March 3. The shares were sold at an average price of $187.50, for a total value of $1,091,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. 27.40% of the shares are currently held by insiders of the company.
A number of institutional investors have recently changed their positions in the company. Mackenzie Financial Corp increased its stake in shares of Avis Budget Group by 2.6% in the fourth quarter. Mackenzie Financial Corp now owns 2,823 shares of the business services provider worth $585,000 after buying 72 additional shares during the period. Quadrant Capital Group LLC increased its stake in shares of Avis Budget Group by 19.1% in the fourth quarter. Quadrant Capital Group LLC now owns 468 shares of the business services provider worth $97,000 after purchasing an additional 75 shares during the period. Strs Ohio increased its stake in shares of Avis Budget Group by 1.1% in the first quarter. Strs Ohio now owns 9,000 shares of the business services provider worth $2,369,000 after purchasing an additional 100 shares during the period. Truist Financial Corp increased its stake in shares of Avis Budget Group by 7.9% in the first quarter. Truist Financial Corp now owns 1,393 shares of the business services provider worth $367,000 after buying an additional 102 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Avis Budget Group by 737.5% in the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider worth $35,000 after purchasing an additional 118 shares during the period.
Avis Budget Group Company Profile (Get an assessment)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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