Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $196.40.
A number of analysts recently commented on the company. Barclays reduced their price objective on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday. StockNews.com cut Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their price target on Avis Budget Group from $168.00 to $156.00 and set an “underweight” rating for the company in a research report on Tuesday, June 7th. Bank of America cut Avis Budget Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Avis Budget Group from $193.00 to $238.00 in a research report on Wednesday, May 4th.
In other news, Chairman Bernardo Hees purchased 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was bought at an average cost of $189.90 per share, with a total value of $4,937,400.00. Following the completion of the purchase, the chairman now owns 422,142 shares in the company, valued at $80,164,765.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 83,734 shares of company stock valued at $14,792,435. 37.30% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Avis Budget Group by 203.5% in the first quarter. Bank of America Corp DE now owns 789,094 shares of the business services provider’s stock worth $207,769,000 after buying an additional 529,066 shares during the period. Walleye Capital LLC purchased a new stake in shares of Avis Budget Group in the first quarter worth approximately $226,000. Eaton Vance Management raised its holdings in shares of Avis Budget Group by 578.8% in the first quarter. Eaton Vance Management now owns 11,906 shares of the business services provider’s stock worth $3,135,000 after buying an additional 10,152 shares during the period. Eqis Capital Management Inc. purchased a new stake in shares of Avis Budget Group in the first quarter worth approximately $223,000. Finally, First Manhattan Co. raised its holdings in shares of Avis Budget Group by 4.1% in the first quarter. First Manhattan Co. now owns 25,255 shares of the business services provider’s stock worth $6,649,000 after buying an additional 1,000 shares during the period.
CAR stock opened at $156.67 on Friday. Avis Budget Group has a 1-year low of $65.87 and a 1-year high of $545.11. The business has a fifty day moving average price of $187.93 and a 200-day moving average price of $208.15. The stock has a market capitalization of $7.57 billion, a P/E ratio of 4.83, a P/E/G ratio of 0.21 and a beta of 2.11.
Avis Budget Group (NASDAQ:CAR – Get Rating) last posted its quarterly earnings results on Monday, May 2nd. The business services provider reported $9.99 earnings per share for the quarter, topping the consensus estimate of $3.54 by $6.45. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business earned ($0.46) earnings per share. Analysts expect that Avis Budget Group will post 39.29 EPS for the current year.
Avis Budget Group Company Profile (Get Rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Avis Budget Group right now?
Before you consider Avis Budget Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Avis Budget Group wasn’t on the list.
While Avis Budget Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here