Avis Budget Group Inc. (NASDAQ:CAR) Receives $41.75 Consensus Target Price from Brokerages
Avis Budget Group Inc. (NASDAQ:CAR) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $41.75.
CAR has been the topic of a number of recent research reports. BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. ValuEngine lowered shares of WideOpenWest from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th.
NASDAQ:CAR traded up $0.15 during mid-day trading on Tuesday, reaching $36.06. 576,860 shares of the company’s stock were exchanged, compared to its average volume of 834,129. Avis Budget Group has a one year low of $21.63 and a one year high of $39.15. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 9.88 and a beta of 2.08. The business’s fifty day moving average is $34.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 51.70.
In other Avis Budget Group news, insider Mark J. Servodidio sold 38,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $37.07, for a total value of $1,408,660.00. Following the transaction, the insider now directly owns 60,711 shares of the company’s stock, valued at approximately $2,250,556.77. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Avis Budget Group during the 4th quarter valued at approximately $13,058,000. Millennium Management LLC grew its holdings in shares of Avis Budget Group by 353.5% during the 4th quarter. Millennium Management LLC now owns 540,938 shares of the business services provider’s stock valued at $12,160,000 after purchasing an additional 421,653 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Avis Budget Group by 43.5% during the 1st quarter. Neuberger Berman Group LLC now owns 829,326 shares of the business services provider’s stock valued at $28,903,000 after purchasing an additional 251,314 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Avis Budget Group by 30.9% during the 1st quarter. Bank of Montreal Can now owns 740,692 shares of the business services provider’s stock valued at $25,821,000 after purchasing an additional 174,941 shares during the last quarter. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Avis Budget Group during the 2nd quarter valued at approximately $3,669,000.
About Avis Budget Group
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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