Avis Budget Group (NASDAQ:CAR) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Goldman Sachs cut Avis Budget Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $40.12 to $33.00 in a report on Wednesday, February 14th. Deutsche Bank raised their target price on Avis Budget Group from $48.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.60.
Shares of Avis Budget Group (CAR) opened at $48.93 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 22.33. The stock has a market capitalization of $3,960.98, a PE ratio of 11.25 and a beta of 2.34. Avis Budget Group has a 52-week low of $20.71 and a 52-week high of $49.91.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Avis Budget Group had a return on equity of 76.64% and a net margin of 4.08%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. analysts predict that Avis Budget Group will post 3.27 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in Avis Budget Group during the fourth quarter worth approximately $171,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Avis Budget Group by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after purchasing an additional 1,242 shares during the last quarter. Delpha Capital Management LLC purchased a new stake in Avis Budget Group during the fourth quarter worth approximately $181,000. FNY Managed Accounts LLC purchased a new stake in Avis Budget Group during the third quarter worth approximately $160,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Avis Budget Group by 1,413.3% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after purchasing an additional 4,240 shares during the last quarter.
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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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