Brokerages Set Avis Budget Group Inc. (NASDAQ:CAR) Target Price at $32.75

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Shares of Avis Budget Group Inc. (NASDAQ:CAR) have received an average recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.75.

CAR has been the subject of several recent analyst reports. Deutsche Bank restated a “hold” rating and issued a $31.00 price target on shares of Avis Budget Group in a report on Wednesday, November 20th. TheStreet downgraded Avis Budget Group from a “b-” rating to a “c” rating in a report on Monday, September 16th. ValuEngine downgraded Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday, October 24th. BidaskClub downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Morgan Stanley set a $32.00 price target on Avis Budget Group and gave the stock a “sell” rating in a report on Friday, August 9th.

Shares of Avis Budget Group stock traded down $0.09 during trading hours on Monday, hitting $29.66. The company’s stock had a trading volume of 695,195 shares, compared to its average volume of 1,299,903. Avis Budget Group has a 12 month low of $21.63 and a 12 month high of $37.27. The stock has a 50 day moving average of $29.71 and a 200 day moving average of $30.43. The company has a market capitalization of $2.22 billion, a PE ratio of 8.13 and a beta of 2.06. The company has a debt-to-equity ratio of 34.23, a current ratio of 0.94 and a quick ratio of 0.94.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Thursday, October 31st. The business services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.65 by ($0.69). Avis Budget Group had a return on equity of 66.13% and a net margin of 1.91%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company earned $3.33 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. Equities analysts expect that Avis Budget Group will post 3.45 EPS for the current year.

Several large investors have recently bought and sold shares of CAR. First Trust Advisors LP grew its holdings in shares of Avis Budget Group by 13.2% during the first quarter. First Trust Advisors LP now owns 37,787 shares of the business services provider’s stock worth $1,317,000 after buying an additional 4,400 shares in the last quarter. World Asset Management Inc grew its holdings in shares of Avis Budget Group by 4.3% during the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after buying an additional 319 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Avis Budget Group during the second quarter worth about $132,000. Arizona State Retirement System grew its holdings in shares of Avis Budget Group by 1.3% during the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after buying an additional 578 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of Avis Budget Group by 1,806.3% during the second quarter. Strs Ohio now owns 30,500 shares of the business services provider’s stock worth $1,072,000 after buying an additional 28,900 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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