Avis Budget Group Inc. (NASDAQ:CAR) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.40.

CAR has been the topic of a number of recent research reports. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Zacks Investment Research lowered shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine raised shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a report on Friday, February 22nd. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $48.00 price objective on shares of Avis Budget Group in a report on Monday, February 25th.

In related news, insider Mark J. Servodidio sold 38,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $37.07, for a total value of $1,408,660.00. Following the completion of the sale, the insider now directly owns 60,711 shares in the company, valued at $2,250,556.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Srs Investment Management, Llc purchased 4,189,300 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was bought at an average price of $35.33 per share, with a total value of $148,007,969.00. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Avis Budget Group during the fourth quarter worth $13,058,000. Oregon Public Employees Retirement Fund lifted its holdings in Avis Budget Group by 1,992.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 589,650 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 561,467 shares during the period. Millennium Management LLC lifted its holdings in Avis Budget Group by 353.5% in the fourth quarter. Millennium Management LLC now owns 540,938 shares of the business services provider’s stock valued at $12,160,000 after acquiring an additional 421,653 shares during the period. SHANDA ASSET MANAGEMENT HOLDINGS Ltd lifted its holdings in Avis Budget Group by 341.6% in the fourth quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 529,957 shares of the business services provider’s stock valued at $11,913,000 after acquiring an additional 409,957 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Avis Budget Group by 15.1% in the fourth quarter. Pzena Investment Management LLC now owns 2,967,757 shares of the business services provider’s stock valued at $66,715,000 after acquiring an additional 389,731 shares during the period.

CAR traded up $0.28 during trading on Thursday, reaching $33.36. 34,163 shares of the company’s stock were exchanged, compared to its average volume of 1,661,496. The company has a debt-to-equity ratio of 51.70, a quick ratio of 0.95 and a current ratio of 0.95. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $45.15. The firm has a market capitalization of $2.51 billion, a PE ratio of 9.22 and a beta of 1.93.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Wednesday, May 1st. The business services provider reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business earned ($0.74) EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Avis Budget Group will post 3.99 EPS for the current year.

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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