Avis Budget Group Inc. (NASDAQ:CAR) saw a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 20,508,855 shares, a decline of 12.0% from the December 15th total of 23,295,921 shares. Approximately 25.7% of the company’s stock are sold short. Based on an average trading volume of 2,081,057 shares, the short-interest ratio is currently 9.9 days.
Shares of Avis Budget Group (CAR) opened at $49.15 on Friday. Avis Budget Group has a 1 year low of $20.71 and a 1 year high of $49.41. The company has a debt-to-equity ratio of 35.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $4,000.00, a price-to-earnings ratio of 36.41 and a beta of 2.53.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. sell-side analysts forecast that Avis Budget Group will post 2.65 earnings per share for the current year.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 14th. Barclays lifted their target price on shares of Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, MKM Partners boosted their price objective on shares of Avis Budget Group from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.70.
In other Avis Budget Group news, SVP David T. Calabria sold 1,250 shares of Avis Budget Group stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $41.71, for a total value of $52,137.50. Following the completion of the sale, the senior vice president now owns 4,412 shares of the company’s stock, valued at approximately $184,024.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shon Larry D. De sold 25,000 shares of Avis Budget Group stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 222,365 shares of the company’s stock, valued at approximately $9,339,330. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,581 shares of company stock valued at $19,782,022. 2.80% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. CNA Financial Corp bought a new stake in shares of Avis Budget Group during the 3rd quarter valued at $945,000. 1060 Capital LLC purchased a new position in shares of Avis Budget Group during the 3rd quarter valued at $25,874,000. Eqis Capital Management Inc. purchased a new position in shares of Avis Budget Group during the 3rd quarter valued at $380,000. Pacer Advisors Inc. lifted its stake in shares of Avis Budget Group by 85.8% during the 3rd quarter. Pacer Advisors Inc. now owns 17,209 shares of the business services provider’s stock valued at $655,000 after buying an additional 7,948 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Avis Budget Group by 25.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,925 shares of the business services provider’s stock valued at $871,000 after buying an additional 6,576 shares in the last quarter.
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Avis Budget Group Company Profile
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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