Avis Budget Group Inc. (CAR) Receives $41.14 Consensus Target Price from Analysts

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Avis Budget Group Inc. (NASDAQ:CAR) has been assigned an average rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.14.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research report on Monday, April 16th. Barclays boosted their target price on shares of Avis Budget Group from $33.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 26th. ValuEngine lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Deutsche Bank boosted their target price on shares of Avis Budget Group from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Finally, TheStreet lowered shares of Avis Budget Group from a “b-” rating to a “c” rating in a research report on Wednesday, May 2nd.

Shares of CAR stock traded down $0.72 on Tuesday, hitting $33.71. The company’s stock had a trading volume of 1,828,882 shares, compared to its average volume of 2,234,693. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 41.18. Avis Budget Group has a fifty-two week low of $30.67 and a fifty-two week high of $50.88. The firm has a market cap of $2.73 billion, a PE ratio of 10.19 and a beta of 2.06.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business earned $0.30 EPS. analysts forecast that Avis Budget Group will post 3.51 EPS for the current fiscal year.

In related news, EVP Michael K. Tucker sold 7,218 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $43.00, for a total value of $310,374.00. Following the sale, the executive vice president now owns 64,354 shares of the company’s stock, valued at $2,767,222. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Krominga sold 10,000 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now directly owns 305 shares in the company, valued at approximately $12,200. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ING Groep NV acquired a new position in Avis Budget Group in the second quarter valued at approximately $356,000. Commerzbank Aktiengesellschaft FI raised its holdings in Avis Budget Group by 243.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 18,592 shares of the business services provider’s stock worth $604,000 after purchasing an additional 13,186 shares during the period. NumerixS Investment Technologies Inc raised its holdings in Avis Budget Group by 164.1% in the second quarter. NumerixS Investment Technologies Inc now owns 10,300 shares of the business services provider’s stock worth $331,000 after purchasing an additional 6,400 shares during the period. Globeflex Capital L P raised its holdings in Avis Budget Group by 415.5% in the second quarter. Globeflex Capital L P now owns 33,250 shares of the business services provider’s stock worth $1,081,000 after purchasing an additional 26,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Avis Budget Group by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,604,504 shares of the business services provider’s stock worth $52,146,000 after purchasing an additional 14,568 shares during the period.

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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 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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