Avis Budget Group (CAR) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of Avis Budget Group (NASDAQ:CAR) from a c rating to a b- rating in a research note issued to investors on Friday, November 10th.

Other equities research analysts also recently issued reports about the company. Morgan Stanley decreased their target price on Avis Budget Group from $19.00 to $18.00 and set an underweight rating on the stock in a research report on Friday, August 25th. BidaskClub upgraded Avis Budget Group from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Credit Suisse Group reiterated a hold rating on shares of Avis Budget Group in a research report on Thursday, September 14th. MKM Partners boosted their price objective on Avis Budget Group from $36.00 to $49.00 and gave the stock a buy rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised Avis Budget Group from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Avis Budget Group currently has an average rating of Hold and a consensus target price of $37.70.

Avis Budget Group (CAR) opened at $37.84 on Friday. Avis Budget Group has a 52-week low of $20.71 and a 52-week high of $42.40. The company has a market capitalization of $2,958.86, a PE ratio of 13.92 and a beta of 2.57. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $2.47 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. sell-side analysts predict that Avis Budget Group will post 2.65 EPS for the current fiscal year.

In other news, CEO Shon Larry D. De sold 25,000 shares of the company’s 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 transaction, the chief executive officer now owns 222,365 shares of the company’s stock, valued at $9,339,330. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John D. Jr. Hardy sold 831 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.36, for a total value of $29,384.16. Following the transaction, the director now directly owns 831 shares in the company, valued at approximately $29,384.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 428,631 shares of company stock worth $17,028,532. Insiders own 2.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System grew its stake in Avis Budget Group by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock worth $600,000 after purchasing an additional 300 shares in the last quarter. Pacer Advisors Inc. grew its stake in Avis Budget Group by 4.0% in the second quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock worth $253,000 after purchasing an additional 356 shares in the last quarter. Wittenberg Investment Management Inc. grew its stake in Avis Budget Group by 0.7% in the second quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock worth $1,890,000 after purchasing an additional 500 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Avis Budget Group by 3.6% in the second quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after purchasing an additional 580 shares in the last quarter. Finally, LS Investment Advisors LLC grew its stake in Avis Budget Group by 13.0% in the second quarter. LS Investment Advisors LLC now owns 8,881 shares of the business services provider’s stock worth $242,000 after purchasing an additional 1,024 shares in 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.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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