Goldman Sachs Group upgraded shares of Avis Budget Group (NASDAQ:CAR) from a sell rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $35.00 price target on the business services provider’s stock, up from their previous price target of $30.00.
A number of other research firms also recently weighed in on CAR. Zacks Investment Research upgraded shares of Avis Budget Group from a sell rating to a hold rating in a report on Monday, November 12th. Deutsche Bank set a $45.00 target price on shares of Avis Budget Group and gave the stock a buy rating in a report on Thursday, October 25th. Finally, BidaskClub downgraded shares of Avis Budget Group from a buy rating to a hold rating in a report on Wednesday, December 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Avis Budget Group presently has an average rating of Hold and an average price target of $41.83.
CAR opened at $27.58 on Monday. The company has a debt-to-equity ratio of 27.75, a quick ratio of 1.14 and a current ratio of 1.14. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $50.88. The firm has a market cap of $1.99 billion, a P/E ratio of 9.68 and a beta of 1.94.
Several institutional investors and hedge funds have recently made changes to their positions in CAR. Texas Permanent School Fund lifted its position in Avis Budget Group by 1.6% during the fourth quarter. Texas Permanent School Fund now owns 42,516 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 660 shares during the last quarter. Alps Advisors Inc. increased its stake in Avis Budget Group by 3.9% during the 4th quarter. Alps Advisors Inc. now owns 24,099 shares of the business services provider’s stock valued at $542,000 after purchasing an additional 900 shares in the last quarter. Loeb Partners Corp acquired a new position in Avis Budget Group during the 4th quarter valued at approximately $32,000. Pearl River Capital LLC acquired a new position in Avis Budget Group during the 4th quarter valued at approximately $34,000. Finally, Legal & General Group Plc increased its stake in Avis Budget Group by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 175,308 shares of the business services provider’s stock valued at $5,634,000 after purchasing an additional 1,685 shares in the last quarter.
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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