Investors purchased shares of Avis Budget Group Inc. (NASDAQ:CAR) on weakness during trading on Wednesday. $50.45 million flowed into the stock on the tick-up and $12.69 million flowed out of the stock on the tick-down, for a money net flow of $37.76 million into the stock. Of all stocks tracked, Avis Budget Group had the 28th highest net in-flow for the day. Avis Budget Group traded down ($0.95) for the day and closed at $49.40
Several analysts recently weighed in on the stock. BidaskClub upgraded shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a report on Friday, March 16th. Zacks Investment Research upgraded shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 27th. Deutsche Bank lifted their target price on shares of Avis Budget Group from $48.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 23rd. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Finally, Goldman Sachs downgraded shares of Avis Budget Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $40.12 to $33.00 in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $37.60.
The stock has a market cap of $3,999.04, a P/E ratio of 11.05 and a beta of 2.34. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 22.33.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.25. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. analysts anticipate that Avis Budget Group Inc. will post 3.27 earnings per share for the current year.
Several large investors have recently bought and sold shares of CAR. FNY Managed Accounts LLC acquired a new position in shares of Avis Budget Group in the third quarter worth $160,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Avis Budget Group in the fourth quarter worth $171,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Avis Budget Group by 1,413.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after acquiring an additional 4,240 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Delpha Capital Management LLC acquired a new position in shares of Avis Budget Group in the fourth quarter worth $181,000.
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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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